Leases

3 Months Ended

Mar. 31, 2021

Leases

Leases

5. Leases

Operating leases consist primarily of office space expiring at various dates through 2023. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. In May 2020, the Company executed an amendment to its lease agreement for its manufacturing facility. The amendment extended the lease term by one year and reduced the monthly rent payment.

The undiscounted future non-cancellable lease payments under the Company’s operating leases were as follows (in thousands):

As of March 31, 2021	Amount
2021	$	1,190
2022		861
2023		67
Total lease payments		2,118
Less: imputed interest		(89)
Total operating lease liabilities		2,029
Less: current portion of operating lease liabilities		(1,367)
Total operating lease liabilities, net of current portion	$	662

Other information related to the Company’s operating lease liabilities was as follows:

	March 31,		December 31,
	2021		2020
Weighted-average remaining lease term (years)	1.52		1.74
Weighted-average discount rate	6.00	%	6.00	%