LEASES (Tables)

6 Months Ended

Jun. 30, 2022

LEASES

Schedule of balance sheet classification of the Company's right-of-use asset and lease liabilities

The balance sheet classification of the Company’s right-of-use asset and lease liabilities was as follows (in thousands):

	June 30,		December 31,
	2022		2021
Operating lease right-of-use assets	$	70,845	$	68,983
Operating lease liabilities
Current portion included in current liabilities		6,483		5,057
Long-term portion included in non-current liabilities		72,996		65,474
Total operating lease liabilities	$	79,479	$	70,531

Schedule of components of lease expenses

The following table summarizes components of lease expenses, which were included in Total costs and expenses in the Company’s Condensed Consolidated Statements of Operations, and other information related to its operating leases as follows (in thousands except weighted-average remaining lease terms and discount rates):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Operating lease cost	$	4,399	$	3,380	$	8,954	$	6,777
Variable lease cost		1,236		1,578		2,216		2,288
Short-term lease cost		35		39		77		75
Total lease cost	$	5,670	$	4,997	$	11,247	$	9,140
Other information
Cash paid for amounts included in the measurement of lease liabilities included in Operating cash flows	$	3,262	$	2,512	$	7,073	$	4,834
Tenant improvement allowance received for amounts included in the measurement of lease liabilities included in Operating cash flows	$	2,085	$	—		5,200		—
Right-of-use assets obtained from entering new leases	$	553	$	—	$	553	$	—
Increase / (decrease) in right-of-use assets from lease modifications	$	(180)	$	(215)	$	7,493	$	1,943
Weighted-average remaining lease terms (years)						14.01		17.97
Weighted-average discount rates						7.3%		7.5%

Schedule of minimum lease commitments

As of June 30, 2022, the maturities of the Company’s operating lease liabilities were as follows (in thousands):

			CMO
	Facility		embedded
Year Ending December 31,	leases		leases		Total
2022	$	3,330	$	3,978	$	7,308
2023		8,220		3,120		11,340
2024		8,425		—		8,425
2025		8,205		—		8,205
2026		7,989		—		7,989
Thereafter		92,013		—		92,013
Total lease payments	$	128,182	$	7,098	$	135,280
Less: Present value adjustment		(54,106)		(284)		(54,390)
Less: Future tenant improvement reimbursement		(1,411)		—		(1,411)
Operating lease liabilities	$	72,665	$	6,814	$	79,479