Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Summary of Lease Costs

The Company adopted ASC 842 and the related amendments on January 1, 2022. The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the six-month period ended June 30, 2022:

		For Six Months Ended June 30, 2022
Lease Cost		(in thousands)
Operating lease cost	$	327
Short-term lease cost		—
Variable lease cost		148
Total lease cost	$	475
Other Information
Operating cash flows used for lease liabilities	$	417
Right of use asset acquired under operating lease on the adoption of ASC 842	$	586
Weighted average remaining lease term (in years)		0.9
Weighted average incremental borrowing rate		4.0%

Schedule of Maturities of Operating Lease Liabilities

The maturities of the operating lease liabilities as of June 30, 2022 were as follows (in thousands):

2022 (remaining six months)	$	429
2023		358
Total undiscounted lease payments		787
Less: imputed interest		13
Total operating lease liability		774
Less: current portion		774
Operating lease liability, net of current maturities	$	-

Schedule of Future Minimum Rental Payments for Operating Leases

The future minimum lease payments under all non-cancelable operating lease obligations as of December 31, 2021 under ASC 840 were as follows (in thousands):

2022	$	846
2023		358
Total minimum lease payments	$	1,204