The Company determines if an arrangement is a finance lease, operating lease or short-term lease at inception, or as applicable, and accounts for the arrangement under the relevant accounting literature. During the periods presented, the Company was party to various non-cancellable office and laboratory space operating leases and short-term leases. Currently, the Company is only party to a non-cancellable office and laboratory space operating lease. Under the relevant guidance, the Company recognizes operating lease right-of-use (ROU) assets and liabilities based on the present value of

the future minimum lease payments over the lease term at the commencement date, using the Company’s assumed incremental borrowing rate, and amortizes the ROU assets and liabilities over the lease term. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Short-term leases are not subject to recognition of an ROU asset or liability or straight-line lease expense requirements.

As of March 31, 2022, future minimum payments for the Company’s operating lease liabilities are as follows (in thousands):

Year ending December 31,
2022 (remaining)	$	1,769
2023		3,113
2024		3,207
2025		3,303
2026		3,111
Total lease payments		14,503
Less imputed interest		(2,612	)
Total operating lease liabilities		11,891
Less lease liabilities, current portion		(2,544	)
Lease liabilities, net of current portion	$	9,347

Cash paid for amounts included in the measurement of operating lease liabilities was $0 for the three months ended March 31, 2022 and 2021.

	Three Months Ended March 31,
	2022		2021
Operating leases	$	689	$	150
Short-term leases		—		9
Total rent expense	$	689	$	159

Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. There are no matters currently outstanding for which any liabilities have been accrued.