The Company has operating leases for office and lab space in South San Francisco, California and office space in San Diego, California. In August 2021, the Company entered into a lease amendment for the South San Francisco facility that extended the lease term until May 2028. The lease amendment includes the option to extend the lease for one additional year. In October 2021, the Company entered into a lease amendment for the current San Diego facility that extended the lease expiration from December 2021 to February 2022. Additionally, in September 2021, the Company entered into a lease agreement for a new San Diego facility with a term of 36 months that is expected to commence in the second quarter of 2022.

The right-of-use assets were $11.8 million as of December 31, 2021 and are recorded on the balance sheet in other assets. Lease liabilities are recorded in accrued liabilities and other long-term liabilities on the balance sheet and as of December 31, 2021, were $1.9 million and $10.5 million, respectively.

Operating lease costs for the year ended December 31, 2021, were $1.8 million. Cash paid for operating leases for the year ended December 31, 2021, was $1.9 million. The weighted average discount rate used was 8.2% and the weighted-average remaining lease term for all operating leases was 6.4 years.

Future lease payments of operating lease liabilities as of December 31, 2021, were as follows (in thousands):


Year ending December 31,	Operating Leases
2022	$	2,001
2023		2,415
2024		2,499
2025		2,587
2026		2,677
Thereafter		3,820
Total minimum lease payments		15,999
Less: interest		3,558
Present value of lease liabilities	$	12,441

Under ASC 840, future minimum lease payments for non-cancelable operating leases as of December 31, 2020, were as follows (in thousands):


Year ending December 31,	Operating Leases
2021	$	1,942
2022		686
Total minimum lease payments	$	2,628

Rent expense was $1.4 million and $1.3 million for the years ended December 31, 2020 and 2019, respectively.

From time to time, the Company may be involved in legal proceedings arising in the ordinary course of business. The Company believes there is no threatened litigation or litigation pending that could have, individually or in the aggregate, a material adverse effect on the Company’s financial position, results of operations or cash flows.