The Company has an operating lease agreement for its corporate office. The lease includes an option to extend the lease for up to 5 years and options to terminate the lease within 6 and 7.6 years. The Company has no obligations under finance leases.

The Company entered into an agreement in May 2020 that amended its lease for its office facilities. Under the amended lease, the Company’s leased space increased from approximately 7,800 square feet of space to approximately 10,700 square feet of space. The amended lease commenced in March 2021 when construction of the asset was completed and space became available for use.

The components of lease expense were as follows (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	108	$	108	$	215	$	216

Supplemental cash flow information related to lease was as follows (in thousands):


	For the Six Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	260	$	252
Right-of-use assets obtained in exchange for lease obligations:
Operating lease	$	45	$	45

Supplemental balance sheet information related to lease was as follows (in thousands):


	June 30, 2024		December 31, 2023
Operating lease right-of-use assets	$	2,371	$	2,508
Other current liabilities	$	385	$	369
Operating lease liabilities, net of current portion		2,991		3,188
Total operating lease liabilities	$	3,376	$	3,557

As of June 30, 2024 and December 31, 2023, the weighted average remaining lease term was 6.8 years and 7.3 years, respectively. The weighted average discount rate used to determine the operating lease liabilities was 4.51% as of June 30, 2024 and December 31, 2023.

Remaining payments of lease liabilities as of June 30, 2024 were as follows (in thousands):


2024 (remaining six months)	$	262
2025		537
2026		553
2027		570
2028		587
Thereafter		1,440
Total lease payments		3,949
Less: imputed interest		(573	)
Total	$	3,376

Rent expense was approximately $0.1 million and $0.2 million for both the three and six months ended June 30, 2024 and 2023, respectively.