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Restructuring Charges | 6 Months Ended
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Jun. 30, 2017
Restructuring And Related Activities [Abstract] |
Restructuring Charges | 7. Restructuring Charges On December 19, 2016, the Board of Directors approved a restructuring of the Company’s business based on its decision to focus the Company’s efforts on clinical development, with an initial focus on the X358 clinical programs. The restructuring included a reduction-in-force in which the Company terminated 57 employees (the “2016 Restructuring”). In addition, effective December 21, 2016, the Company’s Chief Executive Officer retired from his position. In early 2017, the Company further revised its strategy to prioritize out-licensing activities and further curtail research and development spending (the “2017 Restructuring”), and the Company terminated five additional employees. During the three and six months ended June 30, 2017, the Company recorded charges of $1.5 million and $3.5 million related to severance, other termination benefits and outplacement services in connection with the workforce reductions resulting from the 2017 Restructuring and 2016 Restructuring activities. In the second quarter of 2017, the Company paid a total of $6.1 million associated with the 2017 Restructuring and 2016 Restructuring activities. Of the remaining accrued restructuring of $1.0 million, the Company expects to pay $0.9 million in the remainder of 2017 and the remaining $0.1 million related to executive severance will continue to be paid through March 2018. The following table summarizes the accrued restructuring costs on the condensed consolidated balance sheet as of June 30, 2017 (in thousands):
|  | Employee Severance |
|  | and Other Benefits |
Balance at December 31, 2016 |  | $ | 3,594 |
Restructuring charges |  |  | 3,480 |
Cash payments |  |  | (6,054 | )
Balance at June 30, 2017 |  | $ | 1,020 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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