Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses
9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

7.    Accrued Expenses


Accrued expenses and other current liabilities consisted of the following (in thousands):



September 30,


December 31,






Compensation expense

  $ 8,735     $ 3,015  

Research and development fees

    1,971       5,758  

Accrued accounts payable

    1,348       1,245  

Other current liabilities

    575       483  

Accrued license obligations

    135       245  


  $ 12,764     $ 10,746  


The compensation expense line item in the above table includes both severance and retention costs associated with the Company's recently announced corporate restructuring. The Company recognized restructuring expenses consisting of one-time cash severance payments and other employee-related costs of $6.8 million during the three and nine months ended September 30, 2023. Severance pay and related costs for currently retained employees are estimated to be paid through the second quarter of 2024. The Company recorded these restructuring charges based on each employee’s role to the respective research and development and general and administrative operating expense categories on its condensed consolidated statements of operations and comprehensive loss.