Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases

Schedule of Operating Leases in Consolidated Balance Sheets

All of the Company’s leases qualify as operating leases. The following table summarizes the presentation of the Company’s operating leases in its condensed consolidated balance sheets:

		March 31,		December 31,
	Balance Sheet Classification	2023		2022
Assets:
Operating lease assets	Right-of-use asset, net	$	120	$	147
Liabilities:
Current portion of operating lease liabilities	Current portion of operating lease liabilities		99		99
Operating lease liabilities, net of current portion	Operating lease liabilities, net of current portion		21		48
Total operating lease liabilities		$	120	$	147

Schedule of Operating Lease Expense Categories in Consolidated Statements of Operations

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

	Three months ended March 31,
	2023		2022
	(In thousands)
Research and development	$	19	$	19
General and administrative		11		11
Total	$	30	$	30

Schedule of Weighted Average Lease Term and Discount Rates

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

	As of March 31,
	2023			2022
Remaining lease term (in years)		1.24			1.37
Discount rate		14.76	%		9.18	%

Schedule of Minimum Lease Payments

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

	As of
	March 31, 2023
	(in thousands)
2023	$	82
2024		50
Total lease payments		132
Less: imputed interest		(12	)
Present value of operating lease liabilities	$	120