Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Operating Lease Costs, Variable Lease Costs and Sub Lease Income

The following table summarizes operating lease costs, variable lease costs and sublease income:

	Three months ended March 31,
	2022			2021
	(in thousands)
Operating lease costs	$	924		$	623
Variable lease costs		634			459
Sublease income		(310	)		(235	)
Net lease cost	$	1,248		$	847

Schedule of Operating Lease Liabilities and Minimum Lease Payments

The maturities of our operating lease liabilities and minimum lease payments as of March 31, 2022 were as follows:

For the Years Ending December 31,	Amount (in thousands)
2022		2,587
2023		4,444
2024		4,578
2025		4,715
Thereafter		31,123
Total undiscounted lease payments	$	47,447
Less: imputed interest		(17,144	)
Less: estimated lease incentives		(6,320	)
Present value of operating lease liabilities	$	23,983

Schedule of Lease Term and Discount Rate

The following table summarizes the lease term and discount rate as of March 31, 2022:

	As of March 31, 2022
Weighted-average remaining lease term (years)
Operating leases		8.6
Weighted-average discount rate
Operating leases		10.6	%

Schedule of Operating Lease Liabilities

The following table summarizes the supplemental cash flow information related to the Company's operating lease:

	Three months ended March 31,
	2022		2021
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	877	$	965
Increase in lease liabilities and right-of-use assets due to lease remeasurement	$	199	$	—

Legal Proceedings—On March 25, 2022, the Company and certain of its executives were named as defendants in a putative securities class action lawsuit filed in the United States District Court for the Central District of California; Pizzuto v. Homology Medicines, Inc., No. 2:22–CV–01968 (C.D. Cal 2022). The complaint alleges that the Company failed to disclose certain information regarding efficacy and safety in connection with a Phase I/II HMI-102 clinical trial. The complaint seeks damages in an unspecified amount. The case is in its early stages. The Company believes the claims alleged lack merit and intends to file a motion to dismiss. As the outcome is not presently determinable, any loss is neither probable nor reasonably estimable.