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Leases (Tables)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Components of Lease Cost

The components of lease cost recorded in the Company’s condensed consolidated financial statements were as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2022

 

 

2021

 

Lease Cost:

 

 

 

 

 

 

Operating lease cost

 

$

264

 

 

$

264

 

Variable lease cost

 

 

878

 

 

 

119

 

Total lease cost

 

$

1,142

 

 

$

383

 

Summary of Weighted-Average Remaining Lease Term and Discount Rate Related to Operating Leases

The weighted-average remaining lease term and discount rate related to the Company’s operating leases were as follows:

 

 

 

As of March 31, 2022

 

Weighted-average remaining lease term (in years)

 

 

1.1

 

Weighted-average discount rate

 

 

5.5

%

Summary of Maturity of Operating Lease Liabilities

Maturity of the Company’s operating lease liabilities in accordance with ASC 842 as of March 31, 2022 were as follows (in thousands):

 

Year ending December 31,

 

 

 

Remainder of 2022

 

$

851

 

2023

 

 

382

 

2024

 

 

2

 

Total maturities

 

 

1,235

 

Less: Amount representing interest

 

 

(39

)

Present value of operating lease liability

 

 

1,196

 

Less: Current portion of operating lease liability

 

 

(1,097

)

Total operating lease liability, net of current portion

 

$

99