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Workforce Reduction
6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Workforce Reduction

12. Workforce Reduction

2022 Workforce Reduction

On October 6, 2022, the Company began a reduction of its current workforce by thirteen (13) full-time employees to align its resources with its current priorities of focusing on a mitochondrial disease-focused strategy. The workforce reduction was completed in the fourth quarter of 2022. All the accrued liabilities related to the 2022 Workforce Reduction were paid off as of December 31, 2022. No cost related to the 2022 Workforce Reduction was recognized during the three and six months ended June 30, 2024.

The Company had further reductions of workforce in 2023 in connection with the sale of the Transferred Assets to Tisento and change to the Company’s strategy. The Company recorded total costs of approximately $0.1 million related to the reduction in workforce during the three and six months ended June 30, 2023.

 

All the accrued liabilities were paid off as of December 31, 2023 and no activities occurred during the three and six months ended June 30, 2024. The following table summarizes the accrued liabilities activity recorded in connection with the reduction in workforce for the six months ended June 30, 2023 (in thousands):

 

 

 

Amounts
accrued at
December 31,
2022

 

 

Charges

 

 

Amount
paid

 

 

Adjustments

 

 

Amounts
accrued at
June 30,
2023

 

Workforce reductions

 

$

(809

)

 

$

(127

)

 

$

791

 

 

$

 

 

$

(145

)

Total

 

$

(809

)

 

$

(127

)

 

$

791

 

 

$

 

 

$

(145

)