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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases Balance Sheet Information

The following table presents the classification of right-of-use assets and lease liabilities as of December 31, 2021:

 

 

BALANCE SHEET CLASSIFICATION

 

DECEMBER 31, 2021

 

ASSETS

 

 

 

 

Operating lease assets

Operating right-of-use assets

 

$

5,053

 

Finance lease assets

Property and equipment, net

 

 

22

 

Total lease assets

 

 

 

5,075

 

Liabilities

 

 

 

 

Current

 

 

 

 

   Operating lease liabilities

Operating lease liabilities, current

 

$

1,128

 

    Finance lease liabilities

Other current liabilities

 

 

19

 

Noncurrent

 

 

 

 

    Operating lease liabilities

Operating lease liabilities, non-current

 

 

4,887

 

    Finance

Other liabilities

 

 

7

 

Total lease liabilities

 

 

$

6,041

 

Summary of Components of Lease Cost

The following table represents the components of lease cost, which are included in general and administrative and research and development expense on the statement of operations, for the year ended December 31, 2021:

 

LEASE COST

 

DECEMBER 31, 2021

 

Finance lease cost:

 

 

 

  Amortization of right-of-use assets

 

$

27

 

  Interest on lease liabilities

 

 

10

 

Operating lease cost

 

 

1,336

 

  Short-term lease cost

 

 

254

 

Variable lease cost

 

 

525

 

Sublease income

 

 

(88

)

Total lease cost

 

$

2,064

 

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted-average remaining lease term and discount rate were as follows:

 

LEASE TERM AND DISCOUNT RATE

 

DECEMBER 31, 2021

Weighted-average remining lease term (years)

 

 

   Operating leases

 

4.6

   Finance Leases

 

1.2

Weighted-average discount rate

 

 

   Operating leases

 

6.7%

   Finance Leases

 

30.6%

Schedule of Supplemental Cash Flow Information

Supplemental disclosure of cash flow information related to leases was as follows:

 

SUPPLEMENTAL CASH FLOW INFORMATION

 

DECEMBER 31, 2021

 

Cash paid for amounts included in measurement of lease liabilities

 

 

 

   Operating cash flows from operating leases

 

$

1,006

 

   Financing cash flows from finance leases

 

$

27

 

Schedule of Future Lease Payments

The following table represents a summary of the Company’s future lease payments required as of December 31, 2021:

 

 

 

OPERATING LEASE OBLIGATIONS

 

HOOD PARK LEASE OBLIGATIONS

 

FINANCE LEASE OBLIGATIONS

 

TOTAL LEASE OBLIGATIONS

 

2022

 

$

1,487

 

$

4,535

 

$

24

 

$

6,046

 

2023

 

 

1,440

 

 

4,663

 

 

6

 

 

6,109

 

2024

 

 

1,460

 

 

4,795

 

 

 

 

6,255

 

2025

 

 

1,496

 

 

4,931

 

 

 

 

6,427

 

2026

 

 

1,116

 

 

5,071

 

 

 

 

6,187

 

Thereafter

 

 

 

 

27,605

 

 

 

 

27,605

 

Total future minimum lease payments

 

$

6,999

 

$

51,600

 

$

30

 

$

58,629

 

Less: amount representing interest

 

 

(984

)

 

 

 

(5

)

 

(989

)

Present value of future minimum lease payments

 

$

6,015

 

$

51,600

 

$

25

 

$

57,640

 

Schedule of Future Minimum Lease Payments

The following represents a summary of the Company's future minimum lease payments under non-cancelable lease agreements, presented in accordance with ASC 840, as of December 31, 2020:

 

 

 

OPERATING LEASE OBLIGATIONS

 

FINANCE LEASE OBLIGATIONS

 

TOTAL LEASE OBLIGATIONS

 

2021

 

$

1,351

 

$

36

 

$

1,387

 

2022

 

 

1,387

 

 

24

 

 

1,411

 

2023

 

 

1,424

 

 

6

 

 

1,430

 

2024

 

 

1,460

 

 

 

 

1,460

 

2025

 

 

1,496

 

 

 

 

1,496

 

Thereafter

 

 

1,115

 

 

 

 

1,115

 

Total minimum lease payments

 

$

8,233

 

$

66

 

$

8,299

 

Less: amount representing interest

 

 

 

 

(14

)

 

(14

)

Present value of minimum lease payments

 

$

8,233

 

$

52

 

$

8,285