Commitment and Contingencies - 10Q (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Lease, Cost

Supplemental lease expense related to leases for the years ended December 31, 2023 and 2022 was as follows (in thousands):

	Years Ended December 31,
	2023		2022
Operating lease cost	$	1,037	$	1,037
Finance lease cost
Amortization of finance leases	35		4
Interest on finance lease liabilities	12		2
Variable lease cost	178		196
Short-term lease cost	80		74
Total lease cost	$	1,342	$	1,313

Supplemental lease expense related to leases for the three and nine months ended September 30, 2024 and 2023 was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost	$	508	$	259	$	1,553	$	777
Finance lease cost
Amortization of finance leases	12		10		39		24
Interest on finance lease liabilities	3		3		9		9
Variable lease cost	364		19		978		129
Short-term lease cost	18		21		53		63
Total lease cost	$	905	$	312	$	2,632	$	1,002

Lessee, Operating Lease, Liability, to be Paid, Maturity

The following table summarizes the maturity of the Company’s operating and finance lease liabilities on an undiscounted cash flow basis and a reconciliation to the operating and finance lease liabilities recognized on the Company’s consolidated balance sheet as of December 31, 2023 (in thousands):

Maturity of operating lease liabilities
2024	$	3,862
2025	3,964
2026	3,672
2027	3,235
2028	3,294
2029	616
Total lease payments	$	18,643
Less: interest	(3,782)
Total operating lease liabilities	$	14,861

The following table summarizes the maturity of the Company’s operating and finance lease liabilities on an undiscounted cash flow basis and a reconciliation to the operating and finance lease liabilities recognized on the Company’s condensed consolidated balance sheet as of September 30, 2024 (in thousands):

Maturity of operating lease liabilities
2024 (remaining)	$	982
2025	3,987
2026	3,695
2027	3,239
2028	3,294
2029	613
Total lease payments	$	15,810
Less: interest	(2,784)
Total operating lease liabilities	$	13,026

Finance Lease, Liability, to be Paid, Maturity

Maturity of finance lease liabilities
2024	$	51
2025	50
2026	15
2027	6
2028	1
Total lease payments	$	123
Less: interest	(16)
Total finance lease liabilities	$	107

Maturity of finance lease liabilities
2024 (remaining)	$	15
2025	60
2026	21
2027	6
Total lease payments	$	102
Less: interest	(9)
Total finance lease liabilities	$	93

Assets And Liabilities, Lessee

Supplemental balance sheet information related to leases as of December 31, 2023 and 2022 was as follows (in thousands):

Leases	December 31,
	2023		2022
Operating right-of-use assets	$	3,681	$	4,344
Operating current lease liabilities	2,559		678
Operating noncurrent lease liabilities	12,302		3,921
Total operating lease liabilities	$	14,861	$	4,599
Finance right-of-use assets	$	98	$	87
Finance current lease liabilities	42		24
Finance noncurrent lease liabilities	65		66
Total finance lease liabilities	$	107	$	90

Other information	December 31,
	2023			2022
Cash paid for amounts included in measurement of operating lease liabilities (in thousands)	$	1,051		$	1039
Cash paid for amounts included in measurement of finance lease liabilities (in thousands)	$	42		$	3
Weighted-average remaining lease term - operating leases (in years)	4.88			5.72
Weighted-average remaining lease term - finance lease (in years)	2.53			3.47
Weighted-average discount rate - operating leases	9.72		%	8.86		%
Weighted-average discount rate - finance lease	11.49		%	11.45		%

Supplemental balance sheet information related to leases as of September 30, 2024 was as follows (in thousands):

Leases
Operating right-of-use assets	$	3,193
Operating lease liabilities, current	2,856
Operating lease liabilities, non-current	10,170
Total operating lease liabilities	$	13,026
Finance right-of-use assets	$	84
Finance lease liabilities, current	54
Finance lease liabilities, non-current	39
Total finance lease liabilities	$	93

Other information
Cash paid for amounts included in measurement of operating lease liabilities (in thousands)	$	2,899
Cash paid for amounts included in measurement of finance lease liabilities (in thousands)	$	45
Weighted-average remaining lease term - operating leases (in years)	4.18
Weighted-average remaining lease term - finance lease (in years)	1.87
Weighted-average discount rate - operating leases	9.73		%
Weighted-average discount rate - finance lease	11.05		%

Asset Acquisition, Contingent Consideration

The following table summarizes the components of the contingent value rights liability in the condensed consolidated balance sheet as of September 30, 2024 and December 31, 2023 (in thousands):

	September 30, 2024				December 31, 2023
	Current		Non-Current		Current		Non-Current
Lease CVR	$	436	$	717	$	281	$	1,006
Intellectual Property CVR, net	—		(71)		—		—
Sales Tax CVR	332		—		—		—
Total CVR liability	$	768	$	646	$	281	$	1,006