Note J - Leases

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Lease Disclosure [Text Block]

J. Leases

The Company has operating and finance leases for office space, laboratory facilities and various laboratory equipment, furniture and office equipment and leasehold improvements. The Company's leases have remaining lease terms of less than 1 year to approximately 4 years, some of which include options to extend the leases for up to 5 years, and some which include options to terminate the leases within 1 year.

Effective   June 1, 2021, the Company agreed to sublease office space in Florida, comprised of one of the two contiguous suites, under a non-cancelable operating lease, which expires in   February 2026.

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

	Three months ended March 31,
Lease Cost	2022			2021
Finance lease cost:
Amortization of right-of-use assets	$	32		$	32
Interest on lease liabilities		1			4
Total finance lease cost		33			36
Operating lease cost		91			91
Short-term lease cost		50			50
Variable lease cost		13			13
Less: sublease income		(39	)		—
Total lease costs	$	148		$	190

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

	Three months ended March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	1	$	4
Financing cash flows from finance leases		10		61
Operating cash flows from operating leases		117		114
Operating cash flows from short-term leases		50		50
Operating cash flows from variable lease costs		13		13
Right-of-use assets obtained in exchange for lease liabilities:
Finance leases	$	—	$	—
Operating leases		—		—

Supplemental balance sheet information related to leases was as follows (in thousands, except weighted average remaining lease term and weighted average discount rate):

	March 31,			December 31,
	2022			2021
Finance Leases
Property and equipment, at cost	$	1,031		$	1,031
less: accumulated depreciation and amortization		(683	)		(651	)
Property and equipment, net	$	348		$	380
Other current liabilities	$	7		$	15
Other long-term liabilities		4			6
Total finance lease liabilities	$	11		$	21
Operating Leases
Operating lease right-of-use assets	$	1,090		$	1,141
Total operating lease right-of-use assets	$	1,090		$	1,141
Current portion of operating lease liabilities	$	356		$	356
Operating lease liabilities, less current portion		1,144			1,232
Total operating lease liabilities	$	1,500		$	1,588
Weighted Average Remaining Lease Term
Finance leases (years)		2			1
Operating leases (years)		4			4
Weighted Average Discount Rate
Finance leases		14.3	%		12.0	%
Operating leases		7.5	%		7.5	%

Maturities of lease liabilities were as follows (in thousands):

	Finance		Operating
Year Ending December 31,	Leases		Leases
2022 (excluding the three months ended March 31, 2022)	$	5	$	346
2023		6		472
2024		—		484
2025		—		390
2026		—		30
Total lease payments		11		1,722
Less: future interest expense		0		(222	)
Lease liabilities	$	11	$	1,500