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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Components of Operating Lease Expense

For the years ended December 31, 2022 and 2021, the components of operating lease expense were as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

Operating lease expense

 

Statement of Operations Location

 

December 31, 2022

 

 

December 31, 2021

 

Fixed operating lease expense

 

Research and development expense

 

$

824

 

 

$

869

 

 

 

General and administrative expense

 

 

772

 

 

 

681

 

 

 

 

 

 

 

 

 

 

Variable operating lease expense

 

Research and development expense

 

 

56

 

 

 

76

 

 

 

General and administrative expense

 

 

59

 

 

 

143

 

 

 

 

 

 

 

 

 

 

Total operating lease expense

 

 

 

$

1,711

 

 

$

1,769

 

Summary of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to the Company’s operating leases for the years ended December 31, 2022 and 2021, was as follows (in thousands):

 

 

 

December 31, 2022

 

 

December 31, 2021

 

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

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

1,514

 

 

$

1,525

 

Summary of Lease Balances Related to Operating and Finance Leases Except Weighted Average Remaining Lease Term And Discount Rate

The following table presents the lease balances within the consolidated balance sheet, weighted average remaining lease term, and the weighted average discount rates related to the Company’s operating and finance leases as of December 31, 2022 and 2021 (in thousands, except for the weighted average remaining lease term and the weighted average discount rate):

 

 Lease Assets and Liabilities

 

 Classification

 

December 31, 2022

 

 

December 31, 2021

 

Assets

 

 

 

 

 

 

 

 

Operating

 

 Operating lease right-of-use assets

 

$

5,124

 

 

$

6,530

 

Financing

 

Property and equipment, net

 

 

201

 

 

 

468

 

Total leased assets

 

 

 

$

5,325

 

 

$

6,998

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating

 

 Operating lease liabilities

 

$

1,690

 

 

$

1,362

 

Non-Current

 

 

 

 

 

 

 

 

Operating

 

 Non-current operating lease liabilities

 

 

4,957

 

 

 

5,973

 

Total lease liabilities

 

 

 

$

6,647

 

 

$

7,335

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term (in years)

 

 

 

 

4.6

 

 

 

5.6

 

Weighted average discount rate

 

 

 

 

9.8

%

 

 

9.8

%

Summary of Maturity of Operating Lease Liabilities

The following table presents the maturity of the Company’s operating lease liabilities as of December 31, 2022 (in thousands):

 

Years Ending December 31,

 

 

 

2023

 

 

1,690

 

2024

 

 

1,718

 

2025

 

 

1,746

 

2026

 

 

1,956

 

2027

 

 

1,156

 

Total future minimum lease payments

 

 

8,266

 

Less imputed interest

 

 

(1,619

)

Total operating lease liabilities

 

$

6,647