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Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]  
Components of Lease Cost for the Sublease

The components of lease cost under ASC 842 for the leases were as follows:

 

(in thousands)

Three Months Ended September 30, 2021

 

 

Nine Months Ended September 30, 2021

 

Operating lease cost

$

189

 

 

$

569

 

Short term lease cost

 

 

 

 

 

Variable lease cost

 

135

 

 

 

381

 

Total lease cost

$

324

 

 

$

950

 

Supplemental Disclosure of Cash Flow Information Related to Leases for the Sublease

Supplemental disclosure of cash flow information related to leases under ASC 842 for the leases were as follows:

 

(in thousands)

 

Nine Months Ended September 30, 2021

 

Operating cash payments for operating leases

 

$

597

 

 

Schedule of Weighted Average Remaining Lease Term and Discount Rate for the Sublease

The weighted-average remaining lease term and discount rate for the leases were as follows:

 

(in thousands)

 

As of September 30, 2021

 

Weighted-average remaining lease term - operating leases

 

8.5 years

 

Weighted-average discount rate - operating leases

 

 

5.79

%

Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases for the Sublease

Future minimum lease payments under non-cancelable operating leases under ASC 842 consisted of the following as of September 30, 2021:

 

Year Ending December 31,

 

(in thousands)

 

2021 (remaining 3 months)

 

$

2,391

 

2022

 

 

3,452

 

2023

 

 

4,706

 

2024

 

 

4,847

 

2025

 

 

4,993

 

Thereafter

 

 

22,930

 

Total future minimum lease payments

 

 

43,319

 

Less: imputed interest

 

 

(9,319

)

Present value of lease liabilities

 

$

34,000

 

 

 

 

 

Included in the condensed consolidated balance sheet (in thousands)

 

 September 30, 2021

 

Lease liability

 

$

4,589

 

Lease liability, net of current portion

 

 

29,411

 

Total lease liability

 

$

34,000

 

 

Future minimum lease payments under non-cancelable operating leases under ASC 840 for the sublease and Lease consisted of the following as of December 31, 2020:

 

Year Ending December 31,

 

(in thousands)

 

2021

 

$

800

 

2022

 

 

3,452

 

2023

 

 

4,706

 

2024

 

 

4,847

 

2025

 

 

4,993

 

Thereafter

 

 

22,930

 

Total

 

$

41,728