Reduction in Workforce

9 Months Ended

Sep. 30, 2017

Restructuring and Related Activities [Abstract]

On August 15, 2017, the Board approved a strategic restructuring of the Company to eliminate a portion of the Company’s workforce in order to preserve the Company’s resources. As of September 30, 2017, the Company estimated total restructuring costs of approximately $0.2 million, which included severance and benefits in accordance with the Company's severance benefit plan, all of which was recorded in the three months ended September 30, 2017.

The table below provides a roll-forward of the reduction in workforce liability (in thousands):



Balance as of January 1, 2017	$	31
Charges	188
Payments	(28		)
Balance as of September 30, 2017	$	191

On September 22, 2017, the Company announced that it has completed the manufacturing of all Vicinium necessary for its ongoing Phase 3 registration trial in patients with non-muscle invasive bladder cancer ("NMIBC"), and for its Cooperative Research and Development Agreement with the National Cancer Institute. In conjunction with this achievement, the Company is ending its large-scale manufacturing activities and redirecting resources toward completing its Phase 3 trial and preparing for discussions with the U.S. Food and Drug Administration regarding, as appropriate, the submission of a Biologics License Application for Vicinium in patients with NMIBC. This change included the reduction in workforce discussed above.