The Company rents office and laboratory space in the United States. The Company also leases office equipment under a non-cancellable equipment lease through December 2022. Rent expense during the three and nine months ended September 30, 2019 under all of the Company’s operating leases was $84,745 and $258,824, respectively, which includes short-term leases and variable lease costs not included in the lease obligation.

Short-term leases are leases having a term of twelve months or less. The Company recognizes short-term leases on a straight-line basis and does not record a related lease asset or liability for such leases.

The office space lease provides for increases in future minimum annual rental payments as defined in the lease agreements. The Company has determined the lease renewal option is not reasonably certain.

The operating cash outflows related to operating lease obligation and the operating cash inflows related to non cash lease expense for the nine months ended September 30, 2019 were $172,857 and $39,044, respectively.

Supplemental other information related to the operating leases balance sheet information is as follows:

	September 30, 2019
Operating lease obligations	$	1,804,786
Operating lease right-of-use assets	$	717,303
Weighted-average remaining lease term		5.58
Weighted-average discount rate		8.0	%

Year ending December 31,
The remainder of 2019	$	95,714
2020		387,079
2021		393,542
2022		400,198
2023		407,054
2024 and thereafter		552,948
Total lease payments		2,236,535
Less imputed interest		(431,749	)
Total	$	1,804,786