Leases

6 Months Ended

Jun. 30, 2021

The Company leases office, manufacturing, distribution and laboratory facilities in Emeryville, California under multiple operating leases.

In addition, the Company also leases multiple facilities in Shanghai, China under operating leases that expire at various dates, including additional office and laboratory facilities under an operating lease agreement that was entered into in July 2020.

Future payments associated with the Company’s operating lease liabilities as of June 30, 2021 is as follows (in thousands):


	Operating leases

Undiscounted lease payments for the year ending December 31,
Remainder of 2021	$	1,697
2022	3,258
2023	3,284
2024	3,338
2025	3,439
Thereafter	8,127
Total undiscounted lease payments	23,143
Less: implied interest	(4,749)
Less: tenant improvement allowances receivable	(1,417)
Present value of operating lease payments	16,977
Less: current portion	(2,136)
Total long-term operating lease liabilities	$	14,841

Rent expense for the three and six months ended June 30, 2021 was $0.9 million and $1.7 million, respectively. Rent expense for the three and six months ended June 30, 2020 was $0.6 million and $1.2 million, respectively. Under the terms of the lease agreements, the Company is also responsible for certain variable lease payments that are not included in the measurement of the lease liability. Variable lease payments for operating leases were $0.6 million and $1.1 million for the three and six months ended June 30, 2021, respectively, including non-lease components such as common area maintenance fees. Variable lease payments for operating leases were $0.3 million and $0.6 million for the three and six months ended June 30, 2020, respectively, including non-lease components such as common area maintenance fees.

The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands):


	Six months ended June 30, 2021


Cash paid for amounts included in the measurement of lease liabilities	$	796

The following summarizes additional information related to operating leases:


	June 30, 2021

Weighted-average remaining lease term (years)	6.70
Weighted-average discount rate	7.03	%

The Company also enters into leasing transactions in which the Company is the lessor, which to date have been classified as sales-type leases. See Note 4 of these condensed consolidated financial statements for the related lease disclosures.