In January 2023, the Company implemented a restructuring plan approved by the board of directors to prioritize and focus its resources on key clinical and discovery programs. The plan included a reduction of the Company’s overall workforce by approximately 25%. The Company completed the workforce reduction in the first quarter of 2023 and incurred one-time restructuring charges of approximately $1.2 million during the three months ended March 31, 2023, including employee severance and benefits.

The outstanding restructuring liabilities are included in accrued and other liabilities on the condensed consolidated balance sheets. The following table summarizes activity during the three months ended March 31, 2023 (in thousands):


	Employee Severance and Benefits
Balance, December 31, 2022	$	—
Restructuring charges		1,207
Cash payments		(726	)
Balance, March 31, 2023	$	481