Leases	12 Months Ended
Dec. 31, 2021
Leases
Leases	Note 3. Leases The facility lease agreement for Epalinges, Switzerland, is automatically renewed month by month with a notice period of three months. The related rent is paid monthly in the amount of €4 and is considered a short-term lease. The facility lease agreement for Leiden, The Netherlands, runs until March 31, 2024, and can be terminated with a six months' notice period. The related rent is paid monthly in the amount of €9. The right to use asset and related liability are recognized and recorded in the consolidated financial statements. The lease renewal term was extended during the current year, and future minimum lease payments are €255, offset by €15 in imputed interest, resulting in €240 net lease liability as of December 31, 2021, €137 in 2022 and €23 in 2023. The Company doesn't have any other operating lease for its research and development facilities, corporate headquarter, offices and equipment. ASU 2016-02 and ASU 2018-11—Accounting Standards Update (“ASU”) 2016-02, Leases (“ASU 2016-02”) required the recognition of right-of-use lease assets relate primarily to the Company’s leases of office and laboratory space. Right-of use lease assets initially equal the lease liability. The lease liability (see table below) equals the present value of the minimum rental payments due under the lease discounted at the rate implicit in the lease or the Company’s incremental borrowing rate for similar collateral. For operating leases, lease liabilities were discounted at the Company’s weighted average incremental borrowing rate for similar collateral estimated to be 5% and the weighted average lease term is 2.25 years. For operating leases, rent expense is recognized on a straight-line basis over the term of the lease and is recorded in “General and administrative” in the Company’s consolidated statements of operations. During the year ended December 31, 2021, the Company recognized €3 in “General and administrative” in its consolidated statement of operations relating to operating leases.

Leases

12 Months Ended

Dec. 31, 2021

Note 3. Leases

The facility lease agreement for Epalinges, Switzerland, is automatically renewed month by month with a notice period of three months. The related rent is paid monthly in the amount of €4 and is considered a short-term lease.

The facility lease agreement for Leiden, The Netherlands, runs until March 31, 2024, and can be terminated with a six months' notice period. The related rent is paid monthly in the amount of €9. The right to use asset and related liability are recognized and recorded in the consolidated financial statements. The lease renewal term was extended during the current year, and future minimum lease payments are €255, offset by €15 in imputed interest, resulting in €240 net lease liability as of December 31, 2021, €137 in 2022 and €23 in 2023. The Company doesn't have any other operating lease for its research and development facilities, corporate headquarter, offices and equipment.

ASU 2016-02 and ASU 2018-11—Accounting Standards Update (“ASU”) 2016-02, Leases (“ASU 2016-02”) required the recognition of right-of-use lease assets relate primarily to the Company’s leases of office and laboratory space. Right-of use lease assets initially equal the lease liability. The lease liability (see table below) equals the present value of the minimum rental payments due under the lease discounted at the rate implicit in the lease or the Company’s incremental borrowing rate for similar collateral. For operating leases, lease liabilities were discounted at the Company’s weighted average incremental borrowing rate for similar collateral estimated to be 5% and the weighted average lease term is 2.25 years. For operating leases, rent expense is recognized on a straight-line basis over the term of the lease and is recorded in “General and administrative” in the Company’s consolidated statements of operations. During the year ended December 31, 2021, the Company recognized €3 in “General and administrative” in its consolidated statement of operations relating to operating leases.