Financial Commitments & Contingencies and Key License Agreements (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

The below table summarizes these lease asset and liability accounts presented on our accompanying Condensed Consolidated Balance Sheets:


Operating Leases*	Condensed Consolidated Balance Sheet Caption	June 30, 2020		December 31, 2019
Operating lease right-of-use assets - non-current*	Facility and equipment under lease	$	3,068	$	3,806

Operating lease liabilities - current	Accounts payable and other accrued liabilities	1,731		1,683
Operating lease liabilities - non-current	Other long-term liabilities	1,563		2,372
Total operating lease liabilities		$	3,294	$	4,055

* As of June 30, 2020 and December 31, 2019, our “facility and equipment under lease” consisted of office and research facilities of $2.7 million and $3.4 million, respectively, and office equipment of $0.4 million and $0.4 million, respectively.

Components of Aggregate Lease Expense

The components of our aggregate lease expense is summarized below:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease cost	$	466	$	459	$	932	$	851
Variable lease cost	114		108		228		215
Short-term lease cost	14		15		29		39
Total lease cost	$	594	$	582	$	1,189	$	1,105

Weighted Average Remaining Lease Term and Applied Discount Rate

Weighted Average Remaining Lease Term

Weighted Average Discount Rate

Operating leases as of June 30, 2020

2.0 years

7.8%

Operating leases as of December 31, 2019

2.5 years

7.8%

Future Contractual Lease Payments

The below table summarizes our (i) minimum lease payments over the next five years, (ii) lease arrangement implied interest, and (iii) present value of future lease payments:


Operating Leases - future payments	June 30, 2020
2020 (remaining)	$	978
2021	1,671
2022	827
2023	87
2024	—
Total future lease payments, undiscounted	$	3,563
(Less): Implied interest	(269)
Present value of operating lease payments	$	3,294