Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies.

Future Minimum Lease Payments

Future minimum annual lease payments under the Company’s noncancelable operating leases as of September 30, 2024 are as follows (in thousands):

	Operating
	Leases
2024 (remaining three months)	$	836
2025		5,139
2026		5,293
2027		5,452
2028		5,616
Thereafter		43,779
Total minimum lease payments		66,115
Less: amount representing interest		(33,192)
Present value of operating lease obligations		32,923
Less: current portion		(4,994)
Noncurrent operating lease obligations	$	27,929

Operating leases

The following table summarizes supplemental cash flow information related to the Company’s operating leases for the nine months ended September 30, 2024 and 2023 (in thousands):

	Nine Months Ended September 30,
		2024	2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,006	$	3,223

	September 30, 2024	December 31, 2023
Weighted-average remaining lease term, years	11.97	12.79
Weighted-average discount rate, %	13.9	13.9