Note 3 - Restructuring Activities and Related Impairments of Property and Equipment and Leases	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	3. Restructuring Activities and Related Impairments of Property and Equipment and Leases During the six months ended June 30, 2017, the Company had restructuring activities and impairments of property and equipment and leases. These activities were completed during the year ended December 31, 2017 and there were no such activities during the six months ended June 30, 2018. Following is a discussion of these activities during the six months ended June 30, 2017. As discussed in Note 1, the Company’s most advanced product candidate was rocapuldencel-T, which the Company was developing for the treatment of mRCC and other cancers. The Company was conducting a pivotal Phase 3 clinical trial of rocapuldencel-T in combination with sunitinib / standard of care for the treatment of newly diagnosed mRCC. In February 2017, the IDMC for the ADAPT trial recommended that the trial be discontinued for futility based on its planned interim data analysis. The IDMC concluded that the trial was unlikely to demonstrate a statistically significant improvement in overall survival in the combination treatment arm utilizing the intent-to-treat population at the pre-specified number of 290 events (deaths), the primary endpoint of the study. This development triggered a restructuring of the Company’s operations and impairments of property and equipment and leases during the three months ended March 31, 2017. As set forth below, the Company recognized restructuring costs of $5.4 million and an impairment loss of property and equipment of $27.2 million during the six months ended June 30, 2017 and restructuring costs of $0.3 million during the three months ended June 30, 2017. Workforce Action Plan On March 10, 2017, the Company enacted a workforce action plan designed to streamline operations and reduce the Company’s operating expenses. Under this plan, the Company reduced its workforce by 58 employees (or 48% ) during the six months ended June 30, 2017. The Company recognized $1.1 million in severance costs and $2.6 million in stock-based compensation costs from the acceleration of vesting of stock options held by the terminated employees during the six months ended June 30, 2017. CTI Lease Agreement In January 2017, the Company entered into a ten -year lease agreement with two five -year renewal options for 40,000 square feet of manufacturing and office space at CTI on the Centennial Campus of North Carolina State University in Raleigh, North Carolina. The Company provided a security deposit in the amount of $2.4 million as security for obligations under the lease agreement, which was provided in the form of a letter of credit. In March 2017, the Company initiated discussions with the landlord of the CTI facility regarding the termination of this lease. In March 2017 the landlord of the CTI facility notified the Company that it was terminating the lease due to nonpayment of invoices for up-fit costs, effective immediately. On March 31, 2017, the Company entered into a termination agreement with the landlord terminating the lease as of March 17, 2017. From the $2.4 million letter of credit, the landlord drew down $0.7 million to cover unpaid construction costs in March 2017 and $1.7 million in April 2017 for lease termination damages and agreed to return $0.1 million in consideration for being able to salvage some of the construction costs. Pursuant to the termination agreement, the Company had no further obligations under the lease. During the six months ended June 30, 2017, the Company recorded a lease termination fee of $1.6 million which is included in Restructuring costs on the statement of operations. The Company also recorded an impairment loss on Construction-in-progress on the property of $0.9 million during the six months ended June 30, 2017. Impairment of Centerpoint Facility and Construction-in-Progress During the three months ended March 31, 2017, the Company also determined that it would no longer need to develop its facility in Durham County, North Carolina (“Centerpoint”), which the Company intended to be built to house the Company’s corporate headquarters and primary manufacturing facility. In November 2017, the Company and TKC Properties, the landlord of the Centerpoint facility, entered into a lease termination agreement in connection with the sale by TKC of the facility to a third party. In the statement of operations for the six months ended June 30, 2017, the Company recorded an impairment loss of $18.3 million for the Construction-in-progress on the property.

ARGOS THERAPEUTICS INC 10-Q