Leases (Tables)

3 Months Ended

Mar. 31, 2022

Lessee Lease Description [Line Items]

Summary of Lease Term and Discount Rate Applied in Arriving at Lease Liability

The following table summarizes the lease term and discount rate applied in arriving at the lease liability:

	March 31, 2022			December 31, 2021
Remaining lease term	9.9 years			10.2 years
Discount rate		5.3	%		5.2	%

Undiscounted Minimum Future Lease Payments Under Non-cancelable Leases

Future lease payments under non-cancelable leases as of March 31, 2022 for each of the years ending December 31 are as follows (in thousands):

Undiscounted lease payments:
Remaining 2022	$	6,263
2023		8,571
2024		8,828
2025		9,093
2026		9,366
Thereafter		61,759
Total undiscounted lease payments		103,880
Less: imputed interest		(24,757	)
Less: tenant improvement allowance		(2,642	)
Total operating lease liability	$	76,481

Watertown Lease

Lessee Lease Description [Line Items]

Summary of Lease Costs

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

	Three Months Ended March 31,
	2022		2021
Lease cost:
Operating lease cost	$	2,508	$	637
Variable lease cost		348		241
Total lease cost	$	2,856	$	878