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Facility Lease (Tables)
3 Months Ended
Mar. 31, 2020
Facility Lease  
Elements of lease expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

Statements of operations and

    

March 31, 

 

 

 

 

comprehensive loss location

 

2020

    

2019

 

 

Costs of operating lease

 

 

 

 

 

 

 

 

 

 

Operating lease costs

 

Research and development,
General and administrative

 

$

239

 

$

249

 

 

Costs of non-lease components (previously common area maintenance)

 

Research and development,
General and administrative

 

 

88

 

 

81

 

 

Total operating lease cost

 

 

 

$

327

 

$

330

 

 

Other Information

 

 

 

 

 

 

 

 

 

 

Operating cash flows used for operating lease

 

 

 

$

377

 

$

359

 

 

Remaining lease term

 

 

 

 

2.8 years

 

 

3.8 years

 

 

Discount rate

 

 

 

 

10.0%

 

 

10.0%

 

 

 

Minimum rental commitments

As of March 31, 2020, minimum rental commitments under this lease were as follows (in thousands):

 

 

 

 

 

Year Ended December 31 (in thousands)

    

 

 

2020*

 

$

870

2021

 

 

1,260

2022

 

 

1,299

Total lease payments

 

 

3,429

Less: imputed interest

 

 

(452)

Total

 

$

2,977


* Remainder of the year

 

As of December 31, 2019, minimum rental commitments under this lease were as follows (in thousands):

 

 

 

 

 

Year Ended December 31 (in thousands)

    

 

 

2020

 

$

1,159

2021

 

 

1,260

2022

 

 

1,299

Total lease payments

 

 

3,718

Less: imputed interest

 

 

(530)

Total

 

$

3,188