Commitments

9 Months Ended

Sep. 30, 2022

Commitments

Commitments

7.Commitments

On January 28, 2022, the Company entered into a sublease agreement (the “Sublease”) with Grant Thornton LLP for new office space to replace its existing office space. The Sublease commenced on May 1, 2022 and will end on July 31, 2024 (or on such earlier date as the term may cease or expire as set forth in the Sublease).

Future minimum payments required under the Company’s Sublease as of September 30, 2022 are summarized as follows (in thousands):

Period Ending December 31,	Amount
2022	$	109
2023		663
2024		395
Total lease payments	$	1,167
Less: imputed interest		(85)
Total operating lease liabilities	$	1,082

Rent expense was $0.2 million for each of the three months ended September 30, 2022 and 2021. Rent expense was $0.7 million and $0.5 million for the nine months ended September 30, 2022 and 2021, respectively. Lease payments were $0.2 for each of the three months ended September 30, 2022 and 2021, respectively. Lease payments were $0.7 million and $0.6 million for the nine months ended September 30, 2022 and 2021, respectively.