Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2022


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021

Revenue	$	1,002	$	—	$	1,994	$	—
Cost of revenue		12		—		26		—
Research and development (1)		269		796		540		1,336
Sales and marketing		37		—		69		—
General and administrative		29		61		58		130

(1)

Included in research and development expenses is non-cash amortization associated with the Exclusive Option Agreements with UMD and Duke of $0.2

million and $0.7 million for the three months ended June 30, 2022 and 2021, respectively, and $0.3 million and $1.0 million for the six months ended June 30, 2022 and 2021, respectively. Also included in research and development expenses is $0.1 million in allocated rent expense for each of the three months ended June 30, 2022 and 2021, and $0.3 million in allocated rent expense for each of the six months ended June 30, 2022 and 2021.

The Company has the following balances related to transactions with related parties, as reflected in the condensed consolidated balance sheets (in thousands). Except for $0.5 million in prepaids expenses and other current assets as of each of June 30, 2022 and December 31, 2021, and $1.6 million and $1.8 million in other noncurrent assets as of June 30, 2022 and December 31, 2021, respectively, which relate to prepaid services to Duke under the Option agreement, all transactions in the table below relate to the Company’s arrangements with UMD (in thousands):


	June 30, 2022		December 31, 2021
Assets
Prepaid expenses and other current assets	$	562	$	612
Operating lease right-of-use asset		3,894		4,032
Other noncurrent assets		1,585		1,845
Liabilities
Accounts payable		2		54
Current operating lease liabilities		577		568
Unearned revenue		3,302		2,821
Non-current operating lease liabilities		3,556		3,643