Subsequent Events |
9 Months Ended |
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Sep. 30, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Note 13 – Subsequent Events
On October 31, 2024, the Company announced that negotiations under a previously disclosed non-binding term sheet regarding global rights to MAT2203 have been terminated following notification from the prospective partner. As a result, the Company implemented an 80% workforce reduction effective on that date and ceased all product development. The severance cost associated with this initiative, which will be settled in cash, totaled approximately $2,150 and will be paid over a twelve-month period following the workforce reduction effective date. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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