Leases

6 Months Ended

Jun. 30, 2020

Leases

Leases

NOTE 6. LEASES

All of the Company’s leases, which primarily include the right to use office and laboratory space, are operating leases, and certain of the leases have both lease and non-lease components.  The Company has elected to account for each separate lease component and the non-lease components associated with that lease component as a single lease component for all classes of underlying assets.

The following table provides additional details related to our facility leases, as presented in the Company’s condensed balance sheet as of June 30, 2020:

Facilities
Right of use assets	$	2,945
Current portion of lease liabilities		2,826
Operating lease liability, net of current portion		608
Total	$	3,434
Weighted-average remaining life (years)		1.25
Weighted-average discount rate		12.99	%

Other information related to the Company’s facilities lease is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease expense	$	648	$	648	$	1,296	$	1,296
Cash paid for operating lease	$	761	$	616	$	1,521	$	1,230

The following table summarizes the Company’s undiscounted cash payment obligations for its operating lease liabilities as of June 30, 2020:

Remainder of 2020	$	1,544
2021		2,183
Total undiscounted operating lease payments		3,727
Imputed interest expenses		(293)
Total operating lease liabilities		3,434
Less: Current portion of operating lease liability		2,826
Operating lease liability, net of current portion	$	608