Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Note 5. Leases

As of December 31, 2023, the maturities of the operating lease liabilities and a reconciliation to the present value of lease liabilities were as follows (in thousands):

	Remaining Lease Payments
2024	$	6,622
2025	7,917
2026	8,116
2027	8,121
2028	8,002
Thereafter	55,984
Total remaining lease payments	94,762
Less: imputed interest	(21,281)
Total operating lease liabilities	73,481
Less: current portion	(5,610)
Long-term operating lease liabilities	$	67,871
Weighted-average remaining lease term (in years)	11.98
Weighted-average discount rate	4.2		%

The following summarizes additional supplemental data related to the operating leases for the years ended December 31, 2023 and 2022 (in thousands):

	2023		2022
Operating lease costs	$	12,025	$	13,135
Right-of-use assets obtained in exchange for operating lease liabilities	$	7,520	$	9,149
Cash paid for operating leases	$	10,403	$	11,222

The Company entered into $12.5 million of contractually binding minimum lease payments for a lease that commenced in November 2023. This amount is included in the above tables and relates to the lease of a laboratory facility in Durham, North Carolina.