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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Components of Operating Lease Costs

The components of operating lease costs were as follows (in thousands):

 

 

 

FOR THE YEAR ENDED DECEMBER 31,

 

 

 

2021

 

 

2020

 

Operating lease costs

 

$

4,882

 

 

$

4,836

 

Short-term lease costs

 

 

27

 

 

 

19

 

Variable lease costs

 

 

2,582

 

 

 

2,222

 

Sublease income

 

 

(1,850

)

 

 

(861

)

 

 

$

5,641

 

 

$

6,216

 

 

 

 

 

 

 

 

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in millions, except lease term and discount rate):

 

 

 

FOR THE YEAR ENDED DECEMBER 31,

 

 

 

2021

 

 

2020

 

Cash paid for amounts included in the measurement of operating
   lease liabilities

 

$

6.0

 

 

$

6.0

 

Weighted-average remaining lease term - operating leases (years)

 

 

7.9

 

 

 

8.9

 

Weighted-average discount rate - operating leases

 

 

10.1

%

 

 

10.3

%

Schedule of Undiscounted Cash Flows Used in Calculating the Operating Lease Liabilities and Amounts to be Received under the Sublease

Undiscounted cash flows used in calculating the Company’s operating lease liabilities and amounts to be received under the sublease at 35 CambridgePark Drive and 4 Hartwell Place as of December 31, 2021 are as follows (in thousands):

 

Fiscal Year

 

OPERATING
LEASE
PAYMENTS

 

 

SUBLEASE
  RECEIPTS

 

 

NET
OPERATING
LEASE
PAYMENTS

 

2022

 

$

6,252

 

 

$

2,821

 

 

$

3,431

 

2023

 

 

6,436

 

 

 

1,962

 

 

 

4,474

 

2024

 

 

6,625

 

 

 

936

 

 

 

5,689

 

2025

 

 

6,820

 

 

 

 

 

 

6,820

 

2026

 

 

7,020

 

 

 

 

 

 

7,020

 

Thereafter

 

 

21,779

 

 

 

 

 

 

21,779

 

Total undiscounted cash flows

 

$

54,932

 

 

$

5,719

 

 

$

49,213

 

Less: Amounts representing interest

 

 

(17,387

)

 

 

 

 

 

 

Present value of lease liabilities

 

$

37,545