Commitments and Contingencies (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Assets and Liabilities Recorded on Consolidated Balance Sheet | The following assets and liabilities are recorded on the Company’s consolidated balance sheet as of December 31, 2022 and 2021.
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Components of Lease Costs | The components of the lease allocated between the general and administrative and the research and development expenses on the consolidated statement of operations for the years ended December 31, 2022 and 2021 were as follows:
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Summary of Remaining Lease Term and Discount Rate | The variable lease costs for the years ended December 31, 2022 and 2021 include common area maintenance and other operating charges associated with the Company’s lease of its principal office facilities in Boston, MA. As the Company’s lease does not provide an implicit rate, the Company utilized its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment.
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Summary of Future Minimum Payments under Operating Leases | Future minimum payments under the 225 Lease, currently the Company’s only operating lease as of December 31, 2022 were as follows:
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