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Restructuring Plan | 9 Months Ended
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Sep. 30, 2023
Restructuring and Related Activities [Abstract] |
Restructuring Plan | 7. Restructuring Plan During the three months ended September 30, 2023, the Comp any incurred $0.2 million of termination costs associated with the Restructuring Plan, primarily related to severance payments and healthcare benefits. A summary of the restructuring costs recorded in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2023 is as follows (in thousands):
|  | Three Months Ended September 30, 2023 |
|  | ROU Asset Impairment |  |  | Severance and Benefits Costs |  |  | Stock-based Compensation |  |  | Total Restructuring Cost Recorded |
General and administrative expense |  | $ | — |  |  | $ | 189 |  |  |  | 33 |  |  | $ | 222 |
Total restructuring costs |  | $ | — |  |  | $ | 189 |  |  | $ | 33 |  |  | $ | 222 |
|  | Nine Months Ended September 30, 2023 |
|  | ROU Asset Impairment |  |  | Severance and Benefits Costs |  |  | Stock-based Compensation |  |  | Total Restructuring Cost Recorded |
General and administrative expense |  | $ | 180 |  |  | $ | 6,025 |  |  | $ | 8,707 |  |  | $ | 14,912 |
Research and development expense |  |  | — |  |  |  | 1,342 |  |  |  | 488 |  |  |  | 1,830 |
Total restructuring costs |  | $ | 180 |  |  | $ | 7,367 |  |  | $ | 9,195 |  |  | $ | 16,742 |
Employees affected by the reduction in workforce under the Restructuring Plan obtained involuntary termination benefits that are provided pursuant to a one-time benefit arrangement. For employees who were notified of their termination in February 2023 and had no requirement to provide future service beyond a minimum retention period, the Company recognized the liability for the full termination benefits at fair value in the first quarter of 2023. For employees who are required to provide services beyond a minimum retention period to receive their termination benefits, the Company recognizes the termination benefits ratably over their future service periods. The service periods began in February 2023 and the majority ended at various dates during the third quarter of 2023. The remaining service periods will continue through March 2024. The activity in the restructuring liability is as follows (in thousands):
|  | Restructuring Liability 2023 |
Restructuring liability as of December 31, 2022 |  | $ | — |
Severance costs incurred during the three months ended March 31, 2023 |  |  | 6,779 |
Severance costs paid during the three months ended March 31, 2023 |  |  | (5,492 | )
Restructuring liability as of March 31, 2023 |  |  | 1,287 |
Severance costs incurred during the three months ended June 30, 2023 |  |  | 399 |
Severance costs paid during the three months ended June 30, 2023 |  |  | (919 | )
Restructuring liability as of June 30, 2023 |  |  | 767 |
Severance costs incurred during the three months ended September 30, 2023 |  |  | 189 |
Severance costs paid during the three months ended September 30, 2023 |  |  | (511 | )
Restructuring liability as of September 30, 2023 |  | $ | 445 |
The restructuring liability balance as of September 30, 2023 includes approximately $23,000 of estimated payments related to the continuation of healthcare coverage for periods greater than twelve months, which is included in other long-term liabilities on the balance sheet. The Company expects to incur aggregate costs of approximately $16.9 million in connection with the Restructuring Plan. The remaining accrued restructuring liability is subject to assumptions, and actual amounts may differ. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the Restructuring Plan. In October 2023, the Company further reduced its workforce by 10 employees. The Company expects to incur additional restructuring costs of $1.7 million in the fourth quarter of 2023 associated with this reduction.

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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/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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