Note 13 – Restructuring

In March 2020, the Company adopted the 2020 Plan in response to the ongoing disruptions from the COVID-19 outbreak, and to better align its cost structure with the resources required to more efficiently and effectively execute on its commercial strategy of creating a strong foundation in the market by establishing national and regional hospital networks as Pure Vu reference centers. Most significantly, the 2020 Plan resulted in the reduction of the Company’s overall headcount by approximately 50%, including a significant reduction of the Company’s commercial team in the US, the implementation of tighter expense controls, and the termination of the lease of the Company’s planned corporate office facility in Norwood, Massachusetts.

During the year ended December 31, 2020 the Company recorded charges of $624 related to the 2020 Plan, of which $445 were related to employee severance and other benefits included in sales and marketing expense and research and developments expense in the statement of comprehensive loss and $179 were related to lease termination and fixed asset impairments included in general and administrative expenses in the statement of comprehensive loss. There are no remaining unpaid liabilities related to restructuring charges as of December 31, 2020.