Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The following table contains future minimum rental obligation required under the existing non-cancellable lease on December 31, 2021 under ASC 840 (in thousands):

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

Summary of Lease Costs

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 year ended December 31, 2022:

		For Year Ended December 31, 2022
Lease Cost		(in thousands)
Operating lease cost	$	653
Variable lease cost		225
Total lease cost	$	878
Other Information
Operating cash flows used for lease liabilities	$	846
Right of use asset acquired under operating lease on the adoption of ASC 842	$	270
Weighted average remaining lease term (in years)		0.4
Weighted average incremental borrowing rate		4.0%

Schedule of Maturities and Future Minimum Rental Obligation Required under New Non-cancellable Lease

The maturities of the operating lease liabilities were as follows (in thousands):

		December 31, 2022
2023	$	358
Total undiscounted lease payments		358
Less: imputed interest		3
Total operating lease liability		355
Less: current portion		355
Operating lease liability, net of current maturities	$	-

The future minimum rental obligation required under the new non-cancellable lease on December 31, 2022 is as follows (in thousands):

2023	$	618
2024		1,079
2025		1,111
2026		1,144
2027		1,179
thereafter		497
Total minimum lease payments	$	5,628