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Leases and Commitments (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Balance Sheet Information for Operating Leases All of the Company's leases qualify as operating leases. The following table summarizes the presentation in the Company's consolidated balance sheet for the operating leases:
December 31,
(in thousands)
20212020
Assets:
Operating lease right-of-use asset$5,749 $6,578 
Liabilities:
Operating lease liability - short-term$682 $1,731 
Operating lease liability - long-term$4,358 $5,040 
Total operating liability$5,040 $6,771 
Lease Cost The following table summarizes the effect of lease costs in our consolidated statements of income.
For the Year Ended December 31,
(in thousands)
202120202019
Operating lease cost
Research and development$1,042 $1,061 $651 
General and administrative311 275 351 
$1,353 $1,336 $1,002 
Lease Maturity Schedule The Company’s lease payments for the next five years and thereafter is expected to be as follows:
Year Ending December 31,(in thousands)
2022$1,145 
20231,178 
20241,213 
20251,250 
20261,287 
Thereafter433 
Total lease payments$6,506 
Less: interest1,466 
Present value of operating lease liabilities$5,040