15. Restructuring

In April 2013, the Company implemented a strategic restructuring designed to conserve resources and improve its financial position. As part of this strategic restructuring, the Company reduced spending on early stage research programs and implemented a reduction in force of approximately 15 positions, or 50% of its workforce, primarily in the research area. The restructuring charges recorded during the year ended December 31, 2013 and the related liability balance as of December 31, 2013 for the strategic restructuring are as follows (in thousands):


	Restructuring Expense		Cash Payments			Non-cash Expense			Restructuring Liability at December 31, 2013
Employee severance, benefits, and related costs	$	279	$	(241	)	$	(38	)	$	—

In connection with the termination of the aforementioned employees during the year ended December 31, 2013, the Company accelerated the vesting of certain stock options. The Company revalued the stock options as of the date of termination using the Black-Scholes option-pricing model. The expense related to the accelerated stock options for the year ended December 31, 2013, included within the table above, was $38,000. For the year ended December 31, 2013, $279,000 of restructuring expense was recorded, of which $17,000 was included within general and administrative expenses and $262,000 was included within research and development expenses in the accompanying statement of operations and comprehensive loss.