Quarterly report pursuant to Section 13 or 15(d)

Restructuring Charges

Restructuring Charges
3 Months Ended
Mar. 31, 2018
Restructuring And Related Activities [Abstract]  
Restructuring Charges

7. Restructuring Charges

On December 19, 2016, the Board of Directors approved a restructuring of the Company’s business based on its decision to focus the Company’s efforts on clinical development, with an initial focus on the X358 clinical programs. The restructuring included a reduction-in-force in which the Company terminated 57 employees. In early 2017, the Company further revised its strategy to prioritize out-licensing activities and further curtail research and development spending and terminated five additional employees.

The following table summarizes the accrued restructuring costs on the condensed consolidated balance sheet as of March 31, 2018 (in thousands):









and Other



Balance at December 31, 2016





Restructuring charges





Cash payments





Balance at December 31, 2017





Cash payments





Balance at March 31, 2018