In June 2020, the Company amended the existing office leases to enter into a noncancelable operating lease to extend the lease terms through August 2023 with a renewal option for an additional year (“Amended Lease”). In February 2023, the Company exercised the option for a one-year extension of the Amended Lease, extending the lease term from August 2023 to August 2024. The Amended Lease monthly base rent will increase approximately 4% annually from $20,019 to $22,195 over the life of the lease, including utilities and other operating costs. Upon the execution of the one-year extension on the Amended Lease, the Company recorded an additional operating lease right-of-use (“ROU”) asset and corresponding lease liability for $0.2 million.

In August 2020, the Company entered into an additional noncancelable operating lease agreement for certain office space with a lease term from August 2020 through August 2023 with a renewal option for an additional year (“New Lease”). In February 2023, the Company exercised the option for a one-year extension of the New Lease, extending the lease term from August 2023 to August 2024. The New Lease also includes a buyout option to terminate the lease prior to its expiration with at least one month’s prior written notice and a one-time payment equal to four months’ rent. The New Lease monthly base rent will increase approximately 4% to 9% from $12,462 to $14,524 over the life of the lease, including utilities and other operating costs. In connection with the execution of the one-year extension on the New Lease, the Company recorded an additional operating lease ROU asset and corresponding lease liability for $0.2 million.

The following table summarizes future minimum payments under the Company's operating leases as of March 31, 2023 (in thousands):


Years Ending December 31,
2023 (remaining)	$	324
2024		294
Thereafter		—
Total lease payments		618
Less: imputed interest		(55	)
Total operating lease liabilities	$	563

Total lease expense for the three months ended March 31, 2023 and 2022 was $0.1 million. At March 31, 2023, the Company had remaining lease liabilities of approximately $0.6 million and operating lease ROU assets of $0.6 million.

Other supplemental cash flow information consisted of the following:


	Three Months Ended March 31,
	2023		2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	0.1	$	0.1

Other supplemental information, as of March 31, 2023, consisted of the following:


	March 31,
	2023
Weighted-average discount rate		14.8	%
Weighted-average remaining lease term (in years)		1.4

As permitted under Delaware law, the Company indemnifies its officers, directors, and employees for certain events and occurrences while the officer, or director is, or was, serving at the Company’s request in such capacity.