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Restructuring
6 Months Ended
Jun. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
In April 2022, the Board of Directors of the Company approved a comprehensive restructuring plan intended to reduce operating expenses. The Company intends to maintain targeted research efforts focused on in-vivo LVV gene therapy and to deprioritize direct investments in reduced toxicity conditioning and cryopreserved apheresis.
As part of the restructuring, the Company plans to reduce its workforce by 30% across the second and third quarters of 2022. The Company estimates that it will incur approximately $6.6 million in costs to implement the restructuring, comprised primarily of severance payments and continuing health care coverage over the severance period. The restructuring actions associated with these charges commenced in April 2022, and are expected to be substantially completed by the end of 2022.
The following table summarizes the accrued liabilities activity recorded in connection with the restructuring for the three and six months ended June 30, 2022:
As of June 30, 2022
Beginning balance$— 
Total expense$6,639 
Payments made from inception through June 30, 2022$3,989 
Remaining accrual at June 30, 2022$2,650