Restructuring |
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Sep. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring | Restructuring On July 27, 2023, the Company announced decisions to reprioritize its areas of focus and to discontinue its clinical development of UpRi following an evaluation of top-line data from the Company’s UPLIFT Phase 2 clinical trial of UpRi in patients with platinum-resistant ovarian cancer, which did not meet its primary endpoint. In connection with these decisions, on July 26, 2023 the Company’s board of directors approved certain expense reduction measures, including a reduction of approximately 50% of the Company’s then-current total employee base (the "Restructuring"). Affected employees were eligible to receive severance and benefit payments, notice pay and outplacement services in connection with the reduction. The Company expects to incur a total of approximately $7 million related to severance and benefit payments, notice pay and outplacement services in connection with the Restructuring. The Company expects to incur a total of approximately $2 million related to contract terminations associated with the Restructuring. Restructuring costs incurred are included within restructuring expenses on the consolidated statements of operations and comprehensive loss. The following table summarizes the charges incurred in connection with the Restructuring:
The following tables summarizes the charges incurred in connection with the Restructuring related to research and development activities and general and administrative activities:
Accrued restructuring costs, which are included in accrued expenses on the consolidated balance sheets, were as follows:
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