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Leases

9 Months Ended

Sep. 30, 2020

Leases:

The Company has one operating lease for research laboratories and office space in Burnaby, British Columbia for a 120-month term from April 1, 2012 to March 31, 2022.

The cost components of the operating lease were as follows for the three and nine month periods ended September 30, 2020 and 2019:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Lease Cost
Operating lease expense	$	151		$	109		$	411		$	328
Variable lease expense⁽¹⁾		137			136			404			404
Lease Term and Discount Rate
Remaining lease term (years)	1.5			2.5			1.5			2.5
Discount rate		3.75	%		3.75	%		3.75	%		3.75	%

⁽¹⁾

^{Variable lease costs are payments that vary because of changes in facts or circumstances and include common area maintenance and property taxes related to the premises. Variable lease costs are excluded from the calculation of minimum lease payments.}

Future minimum lease payments as of September 30, 2020 were as follows:

Year ending December 31:
2020	$	158
2021		599
2022		47
Total future minimum lease payments	$	804
Less: imputed interest		(20	)
Present value of lease liabilities	$	784