In April 2022, the Company implemented changes to its corporate strategy to prioritize the advancement of its then-key programs, SGT-001 and SGT-003. In connection with the changes to corporate operations, the Company reduced headcount by approximately 35 percent. During the year ended December 31, 2022, the Company recorded and paid aggregate restructuring charges of $1,520 related to severance and other employee related costs in connection with the changes to its corporate strategy. The Company does not expect to incur any additional significant costs associated with this restructuring.

In November 2022, the Company’s Board of Directors approved a plan to reduce the Company’s workforce by approximately 18 percent. These reductions were completed by December 5, 2022. This plan was designed to streamline the Company’s operating structure following the Acquisition. The Company recorded a restructuring charge in the fourth quarter of 2022 of $5,658 related to the reduction in force, consisting of severance and other employee termination benefits. The Company paid $2,348 of this amount during the three months ended March 31, 2023 and $1,737 during the year ended December 31, 2022. The Company expects that approximately the remaining $1,573 will be paid by the first quarter of 2024.


One-Time Employee Termination Benefits	April 2022			November 2022
Accrued restructuring charges as of December 31, 2021	$	—		$	—
Accrual recorded as a result of restructuring charges		1,520			5,658
Amounts paid during the period		(1,520	)		(1,737	)
Accrued restructuring charges as of December 31, 2022	$	—		$	3,921
Accrual recorded as a result of restructuring charges		—			—
Amounts paid during the period		—			(2,348	)
Accrued restructuring charges as of March 31, 2023	$	—		$	1,573