Financial Commitments & Contingencies and Key License Agreements (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of Lease assets and Liabilities

“Facility and equipment under lease” consists of the following:

	March 31, 2020		December 31, 2019
Office and research facilities	$	3,077	$	3,391
Office equipment	390		415
Facility and equipment under lease	$	3,467	$	3,806

The below table summarizes these lease asset and liability accounts presented on our accompanying Condensed Consolidated Balance Sheets:

Operating Leases*	Condensed Consolidated Balance Sheet Caption	Balance as of March 31, 2020		Balance as of December 31, 2019
Operating lease right-of-use assets - non-current	Facility and equipment under lease	$	3,467	$	3,806
Operating lease liabilities - current	Accounts payable and other accrued liabilities	$	1,725	$	1,683
Operating lease liabilities - non-current	Other long-term liabilities	1,981		2,372
Total operating lease liabilities		$	3,706	$	4,055

* We had no “finance leases” as of March 31, 2020, as defined in Topic 842.

Components of Aggregate Lease Expense

The components of our aggregate lease expense is summarized below:

	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Operating lease cost	$	466	$	459
Variable lease cost	114		108
Short-term lease cost	15		15
Total lease cost	$	595	$	583

Weighted Average Remaining Lease Term and Applied Discount Rate

	Weighted Average Remaining Lease Term	Weighted Average Discount Rate
Operating leases as of March 31, 2020	2.2 years	7.8%
Operating leases as of December 31, 2019	2.5 years	7.8%

Future Contractual Lease Payments

The below table summarizes our (i) minimum lease payments over the next five years, (ii) lease arrangement implied interest, and (iii) present value of future lease payments:

Operating Leases - future payments	March 31, 2020
2020 (remaining)	$	1,458
2021	1,671
2022	828
2023	87
2024	—
Total future lease payments, undiscounted	$	4,044
(Less): Implied interest	(338)
Present value of operating lease payments	$	3,706

Schedule of Contractual Lease Payments