Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

9. Leases

The Company has historically entered into lease arrangements for its facilities. As of September 30, 2023, the Company had four operating leases with required future minimum payments. The Company’s leases generally do not include termination or purchase options.

In January 2023, and as further amended in April 2023, the Company entered into a lease renewal agreement for office and laboratory space located in Montréal, Québec, for a thirty-two month term, ending in August 2025.

Operating Leases

The following tables contain a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the three and nine months ended September 30, 2023 and 2022:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands)
Operating Leases
Lease Costs
Operating lease costs	$	593	$	614	$	1,779	$	1,845
Short-term lease costs		39		9		86		24
Variable lease costs		86		32		186		132
Total lease costs	$	718	$	655	$	2,051	$	2,001

	Nine Months Ended September 30,
	2023			2022
	(in thousands, except as specified otherwise)
Other Operating Lease Information
Operating cash flows used for operating leases	$	1,799		$	1,334
Right-of-use assets obtained in exchange for new operating lease liability	$	149		$	56
Weighted-average remaining lease term (in years)		1.70			2.67
Weighted-average discount rate		4.1	%		4.0	%