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Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
Rental income recognized from leasing manufacturing facilities was $0.4 million for the year ended December 31, 2022 and is included in other, net in the consolidated statement of operations. As discussed in Note 6, “Property and Equipment” these facilities were sold in 2022 and the lease agreements between the tenants and the Company terminated.
The components of lease expense and supplemental cash flow information are as follows (in thousands):
Years ended December 31,
20232022
Operating lease expense$3,552 $2,393 
Finance lease expense:
Amortization of assets15 15 
Interest on lease liabilities3 12 
Total finance lease expense 18 27 
Short-term lease expense300 341 
Total lease expense$3,870 $2,761 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,508 $2,934 
Operating cash flows from finance leases34 39 
Financing cash flows from finance leases3 6 
Maturities of lease liabilities as of December 31, 2023 are as follows (in thousands):
Years ending December 31,Operating LeasesFinance Leases
2024$3,215 $22 
20252,046 — 
20261,732 — 
20271,660 — 
20281,518 — 
Thereafter2,815 — 
Total lease payments$12,986 $22 
Less: Interest(2,861)— 
Present value of lease liabilities$10,125 $22 
Supplemental balance sheet information related to leases is as follows (in thousands):
December 31, 2023December 31, 2022
Operating Leases
Operating lease right-of-use assets$5,030 $5,900 
Current portion of operating lease liabilities$2,449 $3,328 
Long-term operating lease liabilities7,676 8,044 
Total operating lease liabilities$10,125 $11,372 
Finance Leases
Property and equipment$147 $147 
Accumulated depreciation(70)(55)
Property and equipment, net$77 $92 
Current portion of finance lease liabilities$22 $36 
Long-term finance lease liabilities— 19 
Total finance lease liabilities$22 $55 
Weighted Average Remaining Lease Term
Operating leases4.5 years5.3 years
Finance leases0.5 years1.6 years
Weighted Average Discount Rate
Operating leases7.8 %9.3 %
Finance leases8.5 %8.9 %
Sublease Income
On April 1, 2023, the Company entered into an agreement to sublease its office and lab space in Houston, Texas beginning September 1, 2023 and continuing until October 31, 2030. The rental income of $0.3 million for the year ended December 31, 2023 from the sublease is included in the Company’s statement of operations in Other income, net, and offsets the rental expense from the Company’s lease of the facility from the landlord.
Sublease rental income for future years are as follows (in thousands):
Years ending December 31,Rental Income
2024$767 
2025767 
2026767 
2027767 
2028767 
Thereafter1,406 
Total rental income$5,241 
Leases Leases
Rental income recognized from leasing manufacturing facilities was $0.4 million for the year ended December 31, 2022 and is included in other, net in the consolidated statement of operations. As discussed in Note 6, “Property and Equipment” these facilities were sold in 2022 and the lease agreements between the tenants and the Company terminated.
The components of lease expense and supplemental cash flow information are as follows (in thousands):
Years ended December 31,
20232022
Operating lease expense$3,552 $2,393 
Finance lease expense:
Amortization of assets15 15 
Interest on lease liabilities3 12 
Total finance lease expense 18 27 
Short-term lease expense300 341 
Total lease expense$3,870 $2,761 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,508 $2,934 
Operating cash flows from finance leases34 39 
Financing cash flows from finance leases3 6 
Maturities of lease liabilities as of December 31, 2023 are as follows (in thousands):
Years ending December 31,Operating LeasesFinance Leases
2024$3,215 $22 
20252,046 — 
20261,732 — 
20271,660 — 
20281,518 — 
Thereafter2,815 — 
Total lease payments$12,986 $22 
Less: Interest(2,861)— 
Present value of lease liabilities$10,125 $22 
Supplemental balance sheet information related to leases is as follows (in thousands):
December 31, 2023December 31, 2022
Operating Leases
Operating lease right-of-use assets$5,030 $5,900 
Current portion of operating lease liabilities$2,449 $3,328 
Long-term operating lease liabilities7,676 8,044 
Total operating lease liabilities$10,125 $11,372 
Finance Leases
Property and equipment$147 $147 
Accumulated depreciation(70)(55)
Property and equipment, net$77 $92 
Current portion of finance lease liabilities$22 $36 
Long-term finance lease liabilities— 19 
Total finance lease liabilities$22 $55 
Weighted Average Remaining Lease Term
Operating leases4.5 years5.3 years
Finance leases0.5 years1.6 years
Weighted Average Discount Rate
Operating leases7.8 %9.3 %
Finance leases8.5 %8.9 %
Sublease Income
On April 1, 2023, the Company entered into an agreement to sublease its office and lab space in Houston, Texas beginning September 1, 2023 and continuing until October 31, 2030. The rental income of $0.3 million for the year ended December 31, 2023 from the sublease is included in the Company’s statement of operations in Other income, net, and offsets the rental expense from the Company’s lease of the facility from the landlord.
Sublease rental income for future years are as follows (in thousands):
Years ending December 31,Rental Income
2024$767 
2025767 
2026767 
2027767 
2028767 
Thereafter1,406 
Total rental income$5,241