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Severance
9 Months Ended
Sep. 30, 2023
Severance  
Severance

8. Severance

In July 2023, the Company announced a workforce reduction to reduce operating expenses and to extend its cash runway. In connection with the announcement, the Company reduced headcount by approximately 26%.

In accordance with ASC 420, Exit and Disposal Activities, the Company recorded severance and termination-related costs of $1.0 million in general and administrative expenses and $1.4 million in research and development expenses for both the three and nine months ended September 30, 2023.

During the three months ended September 30, 2022, the Company recorded no severance and termination-related costs in general and administrative expenses or in research and development expenses. During the nine months ended September 30, 2022, the Company recorded severance and termination-related costs of $1.8 million in general and administrative expenses and $0.9 million in research and development expenses.

As of September 30, 2023, $0.4 million of severance and termination-related costs were unpaid and recognized in the balance sheet within accrued expenses and other current liabilities.