LEASES

9 Months Ended

Sep. 30, 2022

Leases

LEASES

8. LEASES

Finance lease assets are included in fixed assets, net of accumulated depreciation.

The table below presents the lease-related assets and liabilities recorded in the Condensed Consolidated Balance Sheet:

	Classification on the Balance Sheet	September 30, 2022
			(unaudited)
Assets
Financing lease assets	Property and equipment, net	$	-
Operating lease assets	Operating lease right of use assets		867
Total lease assets		$	867
Liabilities
Current
Financing lease liabilities	Other accrued expenses	$	-
Operating lease liabilities	Other accrued expenses		668
Total current lease liabilities		$	668
Noncurrent
Financing lease liabilities	Other long-term liabilities		-
Operating lease liabilities	Operating lease liabilities, net of current portion		184
Total long-term lease liabilities			184
Total lease liabilities		$	852

The weighted average remaining lease term for the Company’s operating leases was 1.3 years as of September 30, 2022 and the weighted average discount rate for those leases was 7.7%. The Company’s operating lease expenses are recorded within “Cost of revenue” and “General and administrative expenses.”

The table below reconciles the cash flows to the lease liabilities recorded on the Company’s Condensed Consolidated Balance Sheet as of September 30, 2022:

	Operating Leases
2022	$	208
2023		557
2024		125
Total minimum lease payments		890
Less: amount of lease payments representing effects of discounting		38
Present value of future minimum lease payments		852
Less: current obligations under leases		668
Long-term lease obligations	$	184

On October 31, 2022, the Company entered into a fourth lease amendment with its Pittsburgh laboratory landlord. See Note 20, Subsequent Events, for more detail.