Quarterly report pursuant to Section 13 or 15(d)


6 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  

Note 12 – Restructuring


In January 2023, the Company commenced a strategic restructuring program aimed at capital preservation. In April 2023, the Company approved the implementation of additional cost cutting measures, including an executive reorganization and other cuts in clinical expenses, in connection with its ongoing efforts to reduce operating expenses. In addition, the non-management members of the Board agreed to defer their Board fees until a future date. During the three and six months ended June 30, 2023, the Company recorded charges of $267 and $1,517, respectively, related to the strategic restructuring program. Of that amount, the Company paid $416 and $1,423 during the three and six months ended June 30, 2023, respectively. The Company expects to pay the remaining $94 in the third quarter of 2023.


The outstanding restructuring liabilities are included in accounts payable and accrued expenses on the condensed consolidated balance sheet. As of June 30, 2023, the components of the liabilities were as follows:


Severance and
Other Benefits (1)
Balance as of January 1, 2023   $ -  
Restructuring expenses- Sales and Marketing     566  
Restructuring expenses- Research and Development     477  
Restructuring expenses- General and Administrative     474  
Restructuring expenses        
Cash payments     (1,423 )
Liability included in accounts payable and accrued expenses at June 30, 2023   $ 94  


(1) Employee severance and other benefits expenses were included in sales and marketing expenses, research and development expenses, and general and administrative expenses in the statements of comprehensive loss.