Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases [Text Block]

14. Leases

Operating leases

Substantially all our operating lease right-of-use assets and operating lease liability represents leases for office space and property to conduct our business.

The operating lease expense for the three-month period ended March 31, 2021 included in general and administrative expenses is $40 thousand. The cash outflows from operating leases for the three-month period ended March 31, 2020 was $26 thousand.

The weighted average remaining lease term and the weighted average discount rate for operating leases at March 31, 2021 were 4.9 years and 10%, respectively.

The following table reconciles the undiscounted cash flows for the operating leases as at March 31, 2021 to the operating lease liabilities recorded on the balance sheet:

		Operating Leases
2021	$	118
2022		161
2023		163
2024		166
2025		166
Thereafter		28
Total undiscounted lease payments		802
Less: Interest		195
Present value of lease liabilities	$	607

Current portion of operating lease liability	$	144
Operating lease liability	$	463

Finance leases

Substantially all our finance lease right-of-use assets and finance lease liability represents leases for laboratory equipment to conduct our business.

The cash outflows from finance leases for the three-month period ended March 31, 2021 was $6 thousand.

The weighted average remaining lease term and the weighted average discount rate for finance leases at March 31, 2021 were 3.6 years and 6.43%, respectively.

The following table reconciles the undiscounted cash flows for the finance leases as at March 31, 2021 to the finance lease liabilities recorded on the balance sheet:

		Finance Leases
2021	$	24
2022		32
2023		32
2024		29
Total undiscounted lease payments		117
Less: Interest		13
Present value of lease liabilities	$	104

Current portion of finance lease liability	$	26
Finance lease liability	$	78