Restructuring and Related Activities

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

During the second quarter of 2023, the Company announced and substantially completed a restructuring of the Company's workforce pursuant to which the Company’s workforce was reduced by 74 people, or approximately 33% of the Company’s existing headcount as of April 3, 2023. The Company incurred approximately $4.9 million in restructuring charges in connection with the restructuring, consisting of (i) approximately $4.2 million in cash-based expenses related to employee severance and notice period payments, benefits and related costs, and (ii) approximately $0.7 million in noncash stock-based compensation expense related to the vesting of stock-based awards.

The restructuring charges are included in the Company's consolidated statements of operations for the year end December 31, 2023 as follows (in thousands):


	Year Ended December 31, 2023
Research and development	$	3,811
General and administrative	1,105
Total restructuring expense	$	4,916

All restructuring charges were incurred in the second quarter of 2023, and cash payments were substantially completed by the end of the second quarter of 2023.