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Leases (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Summary of Components of Operating Lease Expense

For the year ended December 31, 2019, the components of operating lease expense were as follows (in thousands):

 

 

 

 

 

 

 

 

Operating lease expense

 

Statement of Operations Location

 

December 31,

2019

 

Fixed operating lease expense

 

Research and development expense

 

 

601

 

 

 

General and administrative expense

 

 

641

 

 

 

 

 

 

 

 

Variable operating lease expense

 

Research and development expense

 

 

56

 

 

 

General and administrative expense

 

 

181

 

 

 

 

 

 

 

 

Total operating lease expense

 

 

 

$

1,479

 

Summary of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to the Company’s operating leases for the year ended December 31, 2019, was as follows (in thousands):

 

 

 

December 31,

2019

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

Operating cash flows from operating leases

 

$

1,234

 

Non cash amounts resulting from the measurement of the lease liabilities:

 

 

 

 

Right of use asset and lease obligation recorded upon amendment of lease agreements

 

$

1,038

 

Summary of Lease Balances Related to Operating and Finance Leases Except Weighted Average Remaining Lease Term And Discount Rate

The following table presents the lease balances within the condensed consolidated balance sheet, weighted average remaining lease term, and the weighted average discount rates related to the Company’s operating and finance leases as of December 31, 2019 (in thousands, except for the weighted average remaining lease term, which is in years, and the weighted average discount rate):

 

Lease Assets and Liabilities

 

Classification

 

December 31,

2019

 

Assets

 

 

 

 

 

 

Operating

 

Operating lease right of use assets

 

$

4,875

 

Financing

 

Property and equipment, net

 

 

1,004

 

Total leased assets

 

 

 

$

5,879

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating

 

Operating lease liabilities

 

$

928

 

Non-Current

 

 

 

 

 

 

Operating

 

Non-current operating lease liabilities

 

 

4,617

 

Total lease liabilities

 

 

 

$

5,545

 

 

 

 

 

 

 

 

Weighted average remaining lease term

 

 

 

 

7

 

Weighted average discount rate

 

 

 

 

10

%

Summary of Maturity of Operating Lease Liabilities

The following table presents the maturity of the Company’s operating lease liabilities as of December 31, 2019 (in thousands):

 

Years Ending December 31,

 

 

 

 

2020

 

$

928

 

2021

 

 

943

 

2022

 

 

1,061

 

2023

 

 

1,076

 

2024

 

 

1,092

 

Thereafter

 

 

2,969

 

Total future minimum lease payments

 

 

8,069

 

Less imputed interest

 

 

(2,524

)

Total operating lease liabilities

 

$

5,545

 

Summary of Future Minimum Payments Due Under Operating Leases

The following table summarizes the future minimum payments due for the Company’s operating leases under the prior lease guidance for each of the next five years and total thereafter as of December 31, 2018 (in thousands):

 

Years Ending December 31,

 

 

 

 

2019

 

$

1,361

 

2020

 

 

1,054

 

2021

 

 

995

 

2022

 

 

1,107

 

2023

 

 

1,123

 

Thereafter

 

 

2,246

 

 

 

$

7,886