Commitments

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments

7. Commitments

Operating Leases

As described further in “Note 2. Summary of Significant Accounting Policies”, the Company adopted Topic 842 as of January 1, 2019. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods.

In May 2004, the Company entered into a noncancelable operating lease for its current office and primary research facility located in Mountain View, California. The Company received a discounted lease rate during the first year of the agreement. In August 2012, the Company entered into an amendment to the lease agreement for the same facility to extend the term through April 2019. In April 2017, the Company entered into a second amendment to the lease agreement for the same facility to extend the term of the lease through April 2020. In May 2019, the Company entered into a third amendment to the lease agreement for the same facility to extend the term of the lease through April 2021.

The balance sheet classification of the Company’s operating lease liabilities was as follows (in thousands):

	June 30,		December 31,
	2019		2018
Accrued and other current liabilities (1)	$	1,308	$	244
Other non-current liabilities (2)		1,378		143
Total lease liabilities	$	2,686	$	387

(1) Includes current portion of operating lease liabilities as of June 30, 2019 and deferred rent as of December 31, 2018

(2) Includes non-current portion of operating lease liabilities as of June 30, 2019 and deferred rent as of December 31, 2018

The component of lease costs, which was included in operating expenses in the Company’s Condensed Consolidated Statements of Operations, was as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Operating lease cost	$	324	$	268	$	592	$	536

Cash paid for amounts included in the measurement of lease liabilities for the six months ended June 30, 2019 was $565,000 and was included in net cash used in operating activities in the Company’s Condensed Consolidated Statements of Cash Flows.

Future minimum lease payments under all noncancelable operating leases as of June 30, 2019 are as follows (in thousands):

	Operating leases
Year ending December 31:
Remaining of fiscal year 2019	$	751
2020		1,659
2021		579
Total minimum payments		2,989
Less: interest		(303	)
Present value of lease liabilities	$	2,686

As of June 30, 2019, the weighted-average remaining lease term was 1.8 years and the weighted-average operating discount rate used to determine the operating lease liability was 11.0%.