Leases (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2022 (in thousands, except lease term and discount rate):

	June 30, 2022
	Operating Leases			Finance Leases
2022 (remaining 6 months)	$	549		$	216
2023		1,246			288
2024		1,273			—
2025		1,311			—
2026		1,193			—
Thereafter		3,000			—
Total lease payments		8,572			504
Less: imputed interest		(2,227	)		(5	)
Total lease liabilities	$	6,345		$	499
Lease liabilities: current (i)	$	668		$	429
Lease liabilities: non-current (ii)		5,677			70
Total lease liabilities	$	6,345		$	499
Weighted average remaining lease term (in years)		6.7			1.2
Weighted average discount rate		8.3	%		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				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Operating lease cost	$	271	$	62	$	520	$	97
Variable lease cost and other, net (i)		91		17		143		39
Short-term lease cost		39		—		83		—
Finance lease cost:
Amortization of right-of-use assets		112		90		224		145
Interest		2		3		5		6
Total lease costs	$	515	$	172	$	975	$	287

(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 (in thousands):

	Six Months Ended
	June 30,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	429	$	102
Operating cash flows from finance leases	$	4	$	3
Financing cash flows from finance leases	$	140	$	73
Right-of-use asset acquired under leases
Operating leases	$	4,684	$	1,812
Finance leases	$	—	$	834