XML 22 R12.htm IDEA: XBRL DOCUMENT

Leases

9 Months Ended

Sep. 30, 2020

NOTE 6. LEASES

All of the Company’s leases, which primarily include the right to use office and laboratory space, are operating leases, and certain of the leases have both lease and non-lease components. The Company has elected to account for each separate lease component and the non-lease components associated with that lease component as a single lease component for all classes of underlying assets.

The following table provides additional details related to our facility leases, as presented in the Company’s condensed balance sheet as of September 30, 2020:


Facilities
Right of use assets	$	2,402

Current portion of lease liabilities		2,770
Operating lease liability, net of current portion		—
Total	$	2,770

Weighted-average remaining life (years)		1.00
Weighted-average discount rate		12.99	%

Other information related to the Company’s facilities leases is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease expense	$	648	$	648	$	1,944	$	1,944
Cash paid for operating lease	$	767	$	660	$	2,288	$	1,890

The following table summarizes the Company’s undiscounted cash payment obligations for its operating lease liabilities as of September 30, 2020:


Remainder of 2020	$	777
2021		2,183
Total undiscounted operating lease payments		2,960
Imputed interest expenses		(190)
Total operating lease liabilities		2,770
Less: Current portion of operating lease liability		2,770
Operating lease liability, net of current portion	$	—