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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases

8. LEASES

The Company leases office space and vehicles. The leases have remaining lease terms of four to fifteen months. The Company’s recognized lease costs include:

 

 

Year Ended December 31,

 

(in thousands)

 

2021

 

 

2020

 

Income Statement

 

 

 

 

 

 

Operating lease cost(1)

 

$

605

 

 

$

604

 

(1)
Operating lease cost is recorded within general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss.

 

Year Ended December 31,

 

 

2021

 

 

2020

 

Weighted-average remaining lease term (months)

 

4.6

 

 

 

16.3

 

Weighted-average discount rate

 

7.56

%

 

 

7.56

%

 

The Company’s variable lease costs and short-term lease costs were not material.

The Company is obligated under various non-cancellable lease agreements providing for office space and vehicles that expire at various dates through 2023. Maturities of lease payments under non-cancellable leases were as follows:

(in thousands)

 

December 31, 2021

 

2022

 

$

240

 

2023

 

 

1

 

Total lease payments

 

 

241

 

Less Imputed Interest

 

 

(4

)

Present value of lease liabilities

 

$

237