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Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases LEASES
Our lease obligation is comprised of operating leases for our offices and research facilities with remaining lease terms ranging from two months to four years and each containing customary rent escalation clauses. Our leases contain one renewal, at our option, which is generally for a five-year period. We have not included these renewal periods in the calculation of the right-of-use asset and lease liability since it is uncertain whether we will exercise the renewal option.
Our leased offices and research facilities in Fremont, California expired on February 10, 2025 and our sub-lease agreement for office space at that facility, entered into with Chronus Health in 2023 expired on February 1, 2025.
The following table provides additional details of our facility leases presented in our balance sheets:
($ in thousands)
December 31,
Facilities20242023
Right-of-use assets$2,380 $5,589 
Current portion of lease liabilities1,562 4,435 
Operating lease liability, net of current portion1,023 1,725 
Total lease liabilities$2,585 $6,160 
Weighted-average remaining term (in years)1.81.6
Weighted-average discount rate6.5 %6.8 %
The lease costs, which are included in operating expenses in our statements of operations and comprehensive loss, were as follows:
Year Ended December 31,
(in thousands)202420232022
Operating lease expense$4,699 $3,857 $4,257 
Cash paid for operating leases$4,931 $4,481 $4,292 
The following table summarizes our undiscounted cash payment obligations for our operating lease liabilities as of December 31, 2024:
(in thousands)
Operating Leases
2025$1,660 
2026702 
2027238 
2028124 
Thereafter21 
Total undiscounted operating lease payments2,745 
Imputed interest expenses(160)
Total operating lease liabilities2,585 
Less: Current portion of operating lease liability(1,562)
Operating lease liability, net of current portion$1,023