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LEASES | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
LEASES | LEASES All of our leases are operating leases and each contain customary rent escalation clauses. Certain of the leases have both lease and non-lease components. We have 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 of our facility leases presented in our condensed balance sheets (dollars in thousands):
Facilities | June 30, 2024 |  | December 31, 2023
Right-of-use assets | $ | 4,324 |  | $ | 5,589
Current portion of lease liabilities | 3,550 |  | 4,435
Operating lease liability, net of current portion | 1,096 |  | 1,725
Total lease liabilities | $ | 4,646 |  | $ | 6,160
Weighted-average remaining life (years) | 1.4 |  | 1.6
Weighted-average discount rate | 6.7 | % |  | 6.8 | %
The lease costs, which are included in operating expenses in our condensed statements of operations and comprehensive loss, were as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease expense | $ | 1,091 |  |  | $ | 1,064 |  |  | $ | 2,137 |  |  | $ | 2,128 |
Cash paid for operating lease | $ | 1,221 |  |  | $ | 1,100 |  |  | $ | 2,386 |  |  | $ | 2,198 |
The following table summarizes our undiscounted cash payment obligations for our operating lease liabilities as of June 30, 2024 (in thousands):
Remainder of 2024 | $ | 2,487 |
2025 | 1,663 |
2026 | 604 |
2027 | 117 |
Thereafter | — |
Total undiscounted operating lease payments | 4,871 |
Imputed interest expenses | (225) |
Total operating lease liabilities | 4,646 |
Less: Current portion of operating lease liability | (3,550) |
Operating lease liability, net of current portion | $ | 1,096 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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