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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Reconciliation of Undiscounted Operating Lease Cash Flows to Operating Lease Liability Payments

The following table reconciles the Company’s undiscounted operating lease cash flows to its operating lease liability (in thousands):

 

 

 

March 31,
2022

 

Remaining 2022

 

$

340

 

2023

 

 

466

 

2024

 

 

480

 

2025

 

 

494

 

Thereafter

 

 

856

 

Total undiscounted lease payments

 

 

2,636

 

Present value adjustment for minimum lease
   commitments

 

 

(505

)

Tenant improvement allowance receivable

 

 

(280

)

Net lease liability

 

$

1,851

 

Weighted Average Remaining Lease Term and Weighted Average Discount Rate to Determine the Operating Lease Liability

The weighted average remaining lease term and the weighted average discount rate used to determine the operating lease liability were as follows:

 

 

 

March 31,
2022

 

Weighted average remaining lease term (years)

 

 

5.9

 

Weighted average discount rate

 

 

8.1

%