12. Leases

Operating leases

Substantially all our operating lease right-of-use assets and operating lease liability represents leases for office space and property to conduct our business.

The operating lease expense for the six-month period ended June 30, 2022 included in general and administrative expenses is $137 thousand. The cash outflows from operating leases for the six-month period ended June 30, 2022 was $136 thousand.

The weighted average remaining lease term and the weighted average discount rate for operating leases at June 30, 2022 were 3.7 years and 10%, respectively.

The following table reconciles the undiscounted cash flows for the operating leases as at June 30, 2022 to the operating lease liabilities recorded on the balance sheet:

		Operating Leases
2022		135
2023		272
2024		280
2025		280
2026		47
Total undiscounted lease payments		1,014
Less: Interest		229
Present value of lease liabilities	$	785

Current portion of operating lease liability	$	245
Operating lease liability	$	540

Finance leases

Substantially all our finance lease right-of-use assets and finance lease liability represents leases for laboratory equipment to conduct our business.

The cash outflows from finance leases for the six-month period ended June 30, 2022 was $18 thousand.

The weighted average remaining lease term and the weighted average discount rate for finance leases at June 30, 2022 were 2.6 years and 6.35%, respectively.

The following table reconciles the undiscounted cash flows for the finance leases as at June 30, 2022 to the finance lease liabilities recorded on the balance sheet:

		Finance Leases

2022	$	21
2023		42
2024		40
2025		6
Total undiscounted lease payments		109
Less: Interest		9
Present value of lease liabilities	$	100

Current portion of finance lease liability	$	37
Finance lease liability	$	63