|9 Months Ended|
Sep. 30, 2020
|Subsequent Events [Abstract]|
On September 8, 2020, the Company announced data from its Phase 3 study of lenabasum for treatment of systemic sclerosis and announced that the study showed no significant differences in the primary and secondary endpoints when comparing lenabasum to placebo. On October 6, 2020, the Company announced its Phase 2b Study of lenabasum for treatment of cystic fibrosis did not meet its primary end point. On October 8, 2020, the Company announced plans to reduce its workforce by approximately 54% and expects to incur a charge of approximately $3,000,000 related to severance, benefits and related costs, substantially all of which will be recorded in the fourth quarter of 2020.
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