Quarterly report pursuant to Section 13 or 15(d)

Restructuring

v3.23.1
Restructuring
3 Months Ended
Mar. 31, 2023
Restructuring  
Restructuring

8. Restructuring

Restructuring charges relate primarily to the Company’s strategic restructuring to expand its focus to include the advancement of the differentiated gene editing capabilities of its platform. The Company recognized restructuring costs of approximately $7 thousand during the three months ended March 31, 2023, comprised primarily of contract termination costs.

The following table summarizes activity in the Company’s restructuring-related liability during the three months ended March 31, 2023:

    

    

Restructuring

    

Payments/

    

Charges

Utilization

Liability at

(Three Months Ended

(Three Months Ended

Liability at

    

December 31, 2022

    

March 31, 2023)

    

March 31, 2023)

    

March 31, 2023

Research and development contract termination costs

 

311,110

2,490

 

(313,600)

 

Other

 

4,922

 

4,237

 

(9,159)

 

Total Accrued restructuring

$

316,032

$

6,727

$

(322,759)

$