Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Schedule of Maturities of Operating and Finance Lease Liabilities

The following table presents the maturities and balance sheet information of the Company's operating and finance lease liabilities as of March 31, 2022 (in thousands, except lease term and discount rate):

	March 31, 2022
	Operating Leases			Finance Leases
2022 (remaining 9 months)	$	752		$	324
2023		1,013			288
2024		1,033			—
2025		1,064			—
2026		939			—
Thereafter		2,145			—
Total lease payments		6,946			612
Less: imputed interest		(1,730	)		(8	)
Total lease liabilities	$	5,216		$	604
Lease liabilities: current (i)	$	620		$	429
Lease liabilities: non-current (ii)		4,596			175
Total lease liabilities	$	5,216		$	604
Weighted average remaining lease term (in years)		6.7			1.4
Weighted average discount rate		7.8	%		1.7	%

(i)Current lease liabilities are presented within accrued expenses and other current liabilities and payable and accrued liabilities due to related party on the condensed consolidated balance sheets and includes a nominal amount due to Tallac Therapeutics, Inc. for an operating lease.

(ii)Non-current lease liabilities are presented within other non-current liabilities on the condensed consolidated balance sheets.

Components of Lease Costs

The following table presents the components of lease costs (in thousands):

	Three Months Ended
	March 31,
	2022		2021
Operating lease cost	$	249	$	36
Variable lease cost and other, net (i)		52		22
Short-term lease cost		44		3
Finance lease cost:
Amortization of right-of-use assets		112		23
Interest		3		1
Total lease costs	$	460	$	85

(i)The variable lease cost and other, net is comprised primarily of common area maintenance charges for the operating lease, which is dependent on usage. These costs are classified as operating lease expense due to the election to not separate lease and non-lease components. These costs were not included within the measurement of the Company’s operating lease ROU assets and operating lease liabilities.

Supplemental Cash Flow Disclosures for Cash Paid for Leases

The following table presents the supplemental cash flow disclosures for cash paid for leases:

	Three Months Ended
	March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	169	$	23
Operating cash flows from finance leases	$	3	$	—
Financing cash flows from finance leases	$	105	$	—