On October 2, 2017, the Company entered into an office sublease agreement (the “Sublease”) with Profitect, Inc. (the “Sublandlord”) to sublease approximately 5,923 rentable square feet of office space located at 1601 Trapelo Road, Waltham, MA 02451 (the “Premises”). The term of the Sublease began on November 1, 2017 and expired on July 31, 2021 (the “Term”), with a monthly rental rate starting at $14,808 and escalating to a maximum monthly rental rate of $16,288 in the final 12 months of the Term. The

Sublandlord provided the Premises to the Company free of charge for the first two months of the Term. The Company recognized the expense in accordance with ASC 842.

Throughout the Term, the Company was responsible for paying certain costs and expenses, in addition to the rent, as specified in the Sublease, including a proportionate share of applicable taxes, operating expenses and utilities. In applying the ASC 842 transition guidance, the Company retained the classification of this Sublease as operating and recorded a lease liability and a right-of-use asset on the ASC 842 effective date.

The following table contains a summary of the Sublease costs recognized under ASC 842 and other information pertaining to the Company’s operating Sublease for the nine months ended September 30, 2021:

	Nine Months Ended September 30, 2021
Sublease cost
Operating Sublease cost	$	104,574
Total Sublease cost	$	104,574

Other information
Operating cash flows used for operating Sublease	$	(114,018	)
Weighted average remaining Sublease term	0 years
Weighted average discount rate	10%

The Sublease agreement expired on July 31, 2021 and there were no future minimum payments under the Sublease agreement as of September 30, 2021. Future minimum Sublease payments under the Company’s non-cancelable operating Sublease as of December 31, 2020 were as follows:

Future Operating Sublease Payments	Year Ended December 31, 2020
2021		114,018
Thereafter		—
Total Sublease payments	$	114,018
Less: imputed interest		(2,789	)
Total operating Sublease liabilities at December 31, 2020	$	111,229

On May 5, 2021, the Company entered into an office lease agreement with BP Reservoir Place to lease approximately 5,923 rentable square feet of office space located at 1601 Trapelo Road, Waltham, MA 02451. The term of the lease agreement began on August 1, 2021 and will expire on July 31, 2022, with an annual rate of $239,881.50 payable in equal monthly installments. The Company has elected to not recognize the lease agreement on the balance sheet as the term of the agreement is 12 months or less. Please refer to Note 2 for additional information on ASC 842, Leases. The total operating lease costs during the nine months ended September 30, 2021 were $39,980.

Future minimum lease payments under the Company’s non-cancelable operating lease as of September 30, 2021 were as follows:

Future Operating Lease Payments	Nine Months Ended September 30, 2021
2021 (excluding the nine months ended September 30, 2021)	$	59,970
2022		139,931
Thereafter		—
Total lease payments	$	199,901
Less: imputed interest		—
Total operating lease liabilities at September 30, 2021	$	199,901