Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

8. Leases

Since December 31, 2020, there have been no material changes to the key terms of the Company’s lease agreements. For further information on terms and conditions of the Company’s existing leases, please see Note 10. Leases to the consolidated financial statements included in the 2020 Annual Report.

The elements of lease expense were as follows:

	Three Months Ended March 31,
(in thousands except weighted-average amounts)	2021			2020
Operating lease cost	$	747		$	—
Short-term lease cost		52			153
Variable lease cost		122			48
Total lease cost	$	921		$	201
Other Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	442		$	—
Weighted-average remaining lease term (years)		9.33			—
Weighted-average discount rate		9.36	%		—

Right-of-use lease assets and lease liabilities are reported in the Company’s consolidated balance sheets as follows:

(in thousands)	March 31, 2021		December 31, 2020
Assets
Operating right-of-use assets	$	16,796	$	17,117
Liabilities
Operating lease liabilities, current	$	1,155	$	863
Operating lease liabilities, non-current	$	17,121	$	17,430
Total lease liabilities	$	18,276	$	18,293