The Company’s building leases are comprised of office space under non-cancelable operating leases. In July 2021, the Company entered into a lease agreement pursuant to which the Company leased office space in Boston, Massachusetts at 225 Franklin Street (the "225 Lease"). The 225 Lease commencement date was January 1, 2022 and the 225 Lease runs through December 31, 2026. The lease does not contain any options for renewal or extension. The Company began to occupy the space during the three months ended June 30, 2022. Previously, the Company’s principal office was located at 125 Summer Street in Boston, Massachusetts pursuant to a lease that expired in July 2022.

In connection with the 225 Lease commencement, the Company recorded a right-of-use asset and operating lease liability of $2,938 and $2,873 as of January 1, 2022.

Future minimum payments under the Company’s operating leases as of June 30, 2022 were as follows:


	As of June 30,
	2022
2022	$	423
2023		805
2024		821
2025		838
2026		855
Total lease payments		3,742
Less amount representing implied interest		(246	)
Total lease liability	$	3,496
Current portion of operating lease liabilities		730
Noncurrent portion of operating lease liabilities	$	2,766

For the three and six months ended June 30, 2022, the Company recorded operating lease costs of $232 and $464, respectively relating to its operating lease agreements. For the three and six months ended June 30, 2021, the Company recorded operating lease costs of $71 and $141, respectively relating to its operating lease agreements.

The 225 Lease includes a leasehold improvement allowance of $877. As of June 30, 2022, all amounts related to the improvement allowance have been received.