The Company’s building leases are comprised of office space under non-cancelable operating leases. As of March 31, 2022, the Company’s principal office was located at 125 Summer Street in Boston, Massachusetts pursuant to a lease that expires in July 2022. In July 2021, the Company entered into a lease agreement pursuant to which the Company leased additional office space in Boston, Massachusetts at 225 Franklin Street (the "225 Lease"). The 225 Lease commencement date was January 1, 2022 and the 225 Lease runs through December 31, 2026. The leases do not contain any options for renewal or extension. The Company began to occupy the additional space in April 2022.

In connection with the 225 Lease commencement, the Company recorded a right-of-use asset and operating lease liability of $2,938 and $2,873 as of January 1, 2022.

Future minimum payments under the Company’s operating leases as of March 31, 2022 were as follows:


	As of March 31,
	2022
2022	$	706
2023		805
2024		821
2025		838
2026		855
Total lease payments		4,025
Less amount representing implied interest		(272	)
Less amount representing tenant improvement allowance		(877	)
Total lease liability	$	2,876
Current portion of operating lease liabilities	$	113
Noncurrent portion of operating lease liabilities	$	2,763

For the three months ended March 31, 2022 and 2021, the Company recorded operating lease costs of $232 and $76, respectively relating to its operating lease agreements.

The 225 Lease includes a leasehold improvement allowance of $877 for certain improvements the Company is constructing in the space. The Company has not received or recorded any amounts related to the improvement allowance as of March 31, 2022.