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Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Other Information of Operating Lease

Other information related to the operating lease:

 

 

 

Six months ended June 30, 2020

 

Cash payments over lease term (in thousands)

 

$

5,880

 

Weighted average remaining lease term (months)

 

 

76

 

Weighted average discount rate (1)

 

 

6

%

(1)

Because the rate implicit in our lease is not readily determinable, the Company used the Company’s incremental borrowing rate.  In determining our incremental borrowing rate for each lease, we considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to our creditworthiness, the impact of collateralization and the term of each of our lease agreements.

Schedule of Future Minimum Lease Payments

Future minimum lease payments as of June 30, 2020 are as follows (in thousands):

 

 

 

Operating

 

Year

 

Lease Commitments

 

2020 (remaining six months)

 

$

427

 

2021

 

 

869

 

2022

 

 

895

 

2023

 

 

922

 

2024

 

 

950

 

Thereafter

 

 

1,817

 

Total

 

 

5,880