Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies

Schedule of components of lease expense

The components of the Company’s lease expense, which are recorded as a component of research and development expenses and general and administrative expenses in the consolidated statement of operations and comprehensive loss are as follows (in thousands):

	December 31,			December 31,
	2020			2019
Operating lease cost	$	896		$	900
Variable lease cost		662			390
Total lease cost	$	1,558		$	1,290
Weighted‑average remaining operating lease term (years)		1.6			2.6
Weighted‑average discount rate		8.56	%		8.52	%

Schedule of maturities of operating leases

	December 31,			December 31,
	2020			2019
Operating lease cost	$	896		$	900
Variable lease cost		662			390
Total lease cost	$	1,558		$	1,290
Weighted‑average remaining operating lease term (years)		1.6			2.6
Weighted‑average discount rate		8.56	%		8.52	%

Also, as previously disclosed in the Company's 2019 Annual Report on Form 10-K and under the previous lease accounting standard, ASC 840, Leases, the Company recorded rent expense of $1.0 million during the year ended December 31, 2018.

Future minimum lease payments under non-cancelable operating leases under ASC 842 as of December 31, 2020 are as follows (in thousands):

Year Ending December 31,
2021		908
2022		444
2023		—
Present value adjustment		(82)
Total lease liabilities	$	1,270
Less: current lease liabilities		(844)
Long term lease liabilities	$	426