Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases

Summary of presentation of operating leases in consolidated balance sheets

The following table summarizes the presentation of the Company’s operating leases in its consolidated balance sheets:

		For the Quarter ended March 31
(In thousands)	Balance Sheet Classification	2021		2020
Assets:
Operating lease assets	Right-of-use asset	$	156	$	166
Liabilities:
Current operating lease liabilities	Current portion of operating lease liabilities	$	110	$	105
Non-current operating lease liabilities	Operating lease liabilities, net of current portion	$	46	$	61
Total operating lease liabilities		$	156	$	166

Schedule of Weighted average discount rate and lease term

The weighted average remaining lease term and weighted average discount rate of the Company’s operating leases are as follows:

	As of March 31,
	2021		2020
Weighted average remaining lease term (in years)	1.72		2.20
Weighted average discount rate	10.24	%	13.13	%

Summary of lease expense categories in consolidated statements of operations

The Company recorded lease expense in the following expense categories of its consolidated statements of operations:

			For the Three Months
			Ended March 31,
(In thousands)	Statement of Operations Classification		2021		2020
Operating lease expense	Research and development	$	19	$	19
	Selling, general and administrative		11		11
		$	30	$	30

Summary of minimum lease payments for the next five years and thereafter

The minimum lease payments for the next five years are expected to be as follows:

	As Of
	March 31,
(In thousands)	2021
2020	$	91
2021		62
2022		12
2023		7
2024		—
Total lease payments	$	172
Less: imputed interest		16
Present value of operating lease liabilities	$	156