Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases

Schedule of weighted average lease term and discounts rate

	September 30,
	2019
Operating Lease Term and Discount Rate:
Weighted-average remaining lease term		4.7 years
Weighted-average discount rate		11.0%

Schedule of minimum lease payments and lease liabilities

The following table summarizes the Company’s minimum lease payments and lease liability as of September 30, 2019 (in thousands):

Year Ending December 31:	Amount
2019 (remaining three months)	$	477
2020		1,941
2021		2,000
2022		2,059
2023		2,121
Thereafter		895
Total future minimum lease payments		9,493
Less: imputed interest		(1,991)
Present value of future minimum lease payments		7,502
Less: current portion of operating lease liability		(1,209)
Operating lease liability - noncurrent	$	6,293

Schedule of future minimum lease payments for operating leases

As previously disclosed in the Company’s 2018 Annual Report on Form 10-K and under the previous lease accounting standard, future minimum lease payments for operating leases having initial or remaining noncancellable lease terms in excess of one year would have been as follows (in thousands):

Year Ending December 31:	Amount
2019	$	1,941
2020		2,000
2021		2,059
2022		2,121
2023		2,185
Thereafter		922
Total	$	11,228

Schedule of least cost information

Supplemental lease cost information is as follows (in thousands):

		Three Months Ended		Nine Months Ended
		September 30, 2019		September 30, 2019
Operating lease cost	$	444	$	1,347

Schedule of balance sheet information

Supplemental balance sheet information is as follows (in thousands):

	September 30, 2019
Operating Leases:
Operating lease right-of-use asset, non-current	$	6,295
Operating lease liability - current	$	1,209
Operating lease liability - noncurrent		6,293
Total operating lease liabilities	$	7,502

Schedule of cash flow information

Supplemental cash flow information is as follows (in thousands):

	Nine Months Ended
	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow used by operating leases	$	1,409

ASU 2016-02

Leases

Schedule of adopting new guidance

The impact of the changes made to the consolidated balance sheet as of January 1, 2019 as a result of adopting the new guidance was as follows (in thousands):

	Balance at		Adjustments		Balance at
	December 31,		Due to		January 1,
	2018		ASC 842		2019
Balance Sheet:
Operating lease right-of-use asset - noncurrent	$	—		7,499	$	7,499
Operating lease liability - current	$	—		1,080	$	1,080
Operating lease liability - noncurrent	$	—		7,219	$	7,219
Deferred rent - noncurrent	$	799		(799)	$	—