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Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2023
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):

 

 

 

September 30,
2023

 

Remaining 2023

 

 

119

 

2024

 

 

480

 

2025

 

 

494

 

2026

 

 

509

 

Thereafter

 

 

346

 

Total undiscounted lease payments

 

 

1,948

 

Present value adjustment for minimum lease
   commitments

 

 

(276

)

Net lease liability

 

$

1,672

 

Weighted Average Remaining Lease Term and Weighted Average Discount Rate and Operating Lease Expense and Variable Lease Expense

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

 

 

 

September 30,
2023

 

Weighted average remaining lease term (years)

 

 

3.9

 

Weighted average discount rate

 

 

8.1

%

 

Operating lease expense and variable lease expense consisted of the following (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Operating lease expense

 

$

89

 

 

$

102

 

 

$

265

 

 

$

279

 

Variable lease expense

 

$

42

 

 

$

41

 

 

$

144

 

 

$

126