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Note 10 - Lease Obligations
12 Months Ended
Dec. 31, 2022
Leases, Operating [Abstract]  
Lease, Obligations Lease Obligations
The Company leases certain assets under operating leases, which primarily consisted of real estate leases, laboratory equipment leases and office equipment leases as of December 31, 2022. Renewal options for the Company’s leases range from 1 to 5 years in length and begin from 2023 through 2026.
Aggregate lease expense under operating leases was as follows (in thousands):
Years Ended December 31,
20222021
Aggregate lease expense$2,532 $1,795 
Other supplemental information related to leases was as follows:
As of December 31, 2022
As of December 31, 2021
Weighted average remaining lease term8.1 years9.2 years
Weighted average discount rate10.96%11.20%
All of the Company’s leases qualify as operating leases. The following table summarizes the presentation in the Consolidated Balance Sheets of the Company’s operating leases:
Balance Sheet Location20222021
Assets:
Operating lease assets, netOther Assets$6,806 $6,472 
Liabilities:  
Current operating lease liabilitiesLease financing obligation – current liabilities$2,369 $1,819 
Non-current operating lease liabilitiesLease financing obligation – long-term liabilities5,804 5,962 
Total operating lease liabilities$8,173 $7,781 
Operating lease assets are recorded net of accumulated amortization of $4,349 and $2,626 as of December 31, 2022 and 2021, respectively. Cash paid for amounts included in the measurement of lease liabilities was $2,453 and $1,615 for the years ended December 31, 2022 and 2021, respectively.
Maturities of operating lease liabilities as of December 31, 2022, are as follows (in thousands):
2023$2,621 
20241,958 
20251,541 
2026656 
2027613 
Thereafter6,112 
Total lease payments13,501 
Less imputed interest(5,328)
Total$8,173