Commitments and Contingencies

3 Months Ended

Mar. 31, 2017

Commitments And Contingencies Disclosure [Abstract]

11. Commitments and Contingencies

The Company leases office space in Austin, Texas under an operating lease that commenced in January 2015. The lease was amended in September 2016 to increase office space and extend the term to December 31, 2020.

Under the terms of the amended office lease agreement, the security deposit requirement was set at $39,000 until the expiration of the lease. The lessor is entitled to retain all or any part of the security deposit for payment in the event of any uncured default by the Company under the terms of the lease.

In February 2017, the Company entered into a lease agreement for laboratory facilities in Austin, Texas under an operating lease, which will expire in December 2017.

The following table summarizes the Company’s future minimum lease commitments as of March 31, 2017 (in thousands):

Year ending December 31:
2017	$	314
2018		283
2019		291
2020		300
2021		—
Total minimum lease payments	$	1,188

For the three months ended March 31, 2017 and 2016, the Company incurred $76,000 and $35,000, respectively, in rent expense under noncancellable operating leases.