Annual report pursuant to Section 13 and 15(d)

Corporate Restructuring

v3.23.1
Corporate Restructuring
12 Months Ended
Dec. 31, 2022
Corporate Restructuring [Abstract]  
CORPORATE RESTRUCTURING
NOTE 19 -

CORPORATE RESTRUCTURING

 

On May 24, 2022, the Company announced a Corporate Restructuring, intended to extend the Company’s capital resources, while prioritizing the Company’s ongoing cystic fibrosis program and delaying the Company’s atopic dermatitis program. The Corporate Restructuring included a reduction of 36 full-time employees, two consultants and 9 part-time employees, or 42% of the Company’s employees as of such date. The Company incurred a one-time employee benefits and severance cost of approximately $214 in operating expenses as of December 31, 2022. Non-cash stock-based compensation credits related to the forfeiture of stock options of approximately $376 are included in operating expenses as of December 31, 2022.