The Company had an operating lease for approximately 6,000 square feet of office space in Austin, Texas expiring April 30, 2024. The Company terminated this lease on February 22, 2023 with no continuing obligations. The Company also had a short-term lease agreement for an additional 3,600 square feet of office space in Austin, Texas that expired on October 31, 2022. Future expected minimum lease payments as of December 31, 2022 are as follows (in thousands).


		2023	2024	Total future lease payments	Less: imputed interest		Total

Operating leases	$	107	36	143	(4)	$	139

Rent expense was $0.1 million for the years ended December 31, 2022, 2021 and 2020.

There were no right-of-use assets exchanged for operating lease liabilities during the years ended December 31, 2022 and 2021. The Company recorded a right-of-use asset and lease liability of $316,000 as a result of the lease modification in September 2020. The Company utilized a discount rate of 3.25% for the modified lease to determine the present value of the future lease payments, which approximated the Company’s incremental borrowing rate in September 2020.

Cash paid for operating lease liabilities totaled $155,000, $109,000 and $99,000 during the years ended December 31, 2022, 2021 and 2020, respectively.

The Company conducts its product research and development programs through a combination of internal and collaborative programs that include, among others, arrangements with universities, contract research organizations and clinical research sites. It has contractual arrangements with these organizations that are generally cancelable. The Company’s obligations under these contracts are largely based on services performed.