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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | LEASES Our lease obligation is comprised of operating leases for our offices and research facilities with remaining lease terms ranging from two months to four years and each containing customary rent escalation clauses. Our leases contain one renewal, at our option, which is generally for a five-year period. We have not included these renewal periods in the calculation of the right-of-use asset and lease liability since it is uncertain whether we will exercise the renewal option. Our leased offices and research facilities in Fremont, California expired on February 10, 2025 and our sub-lease agreement for office space at that facility, entered into with Chronus Health in 2023 expired on February 1, 2025. The following table provides additional details of our facility leases presented in our balance sheets:
($ in thousands) | December 31,
Facilities | 2024 |  | 2023
Right-of-use assets | $ | 2,380 |  |  | $ | 5,589 |
Current portion of lease liabilities | 1,562 |  |  | 4,435 |
Operating lease liability, net of current portion | 1,023 |  |  | 1,725 |
Total lease liabilities | $ | 2,585 |  |  | $ | 6,160 |
Weighted-average remaining term (in years) | 1.8 |  | 1.6
Weighted-average discount rate | 6.5 | % |  | 6.8 | %
The lease costs, which are included in operating expenses in our statements of operations and comprehensive loss, were as follows:
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Operating lease expense | $ | 4,699 |  |  | $ | 3,857 |  |  | $ | 4,257 |
Cash paid for operating leases | $ | 4,931 |  |  | $ | 4,481 |  |  | $ | 4,292 |
The following table summarizes our undiscounted cash payment obligations for our operating lease liabilities as of December 31, 2024:
(in thousands) | Operating Leases
2025 | $ | 1,660 |
2026 | 702 |
2027 | 238 |
2028 | 124 |
Thereafter | 21 |
Total undiscounted operating lease payments | 2,745 |
Imputed interest expenses | (160) |
Total operating lease liabilities | 2,585 |
Less: Current portion of operating lease liability | (1,562) |
Operating lease liability, net of current portion | $ | 1,023 |

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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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