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Subsequent Event | 6 Months Ended
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Jun. 30, 2022
Subsequent Events [Abstract] |
Subsequent Event | Subsequent EventIn July 2022, the Company implemented a restructuring of operations, including reductions in both headcount and expenses, to prioritize its clinical development of ixoberogene soroparvovec (“Ixo-vec”), formerly referred to as ADVM-022, and focus its pipeline strategy on certain highly prevalent ocular diseases. The Company expects these restructuring measures will be sufficient to fully support its Ixo-vec development plan and extend its expected cash runway into 2025. The Company expects the restructuring to be completed in the fourth quarter of 2022.Under the restructuring plan, the Company reduced its workforce by 78 employees (approximately 38%) and will incur aggregate restructuring charges of approximately $4.2 million, of which it expects approximately $4.1 million will be cash expenditures. The restructuring costs will be recorded primarily in the third quarter of 2022.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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