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Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

5. Leases

The Company leases an office and laboratory space in Seattle, Washington. The components of lease expense and related cash flows were as follows (in thousands):

		Three Months Ended March 31,
		2021				2020
Lease expense
Operating lease expense		$	347			$	347
Variable lease expense			106				86
Total lease expense		$	453			$	433
Operating cash outflows from operating leases		$	421			$	397

The remaining term on the Company’s lease was 1.7 years as of March 31, 2021. To compute the present value of the lease liability, the Company used a discount rate of 8.5%.

Future minimum commitments due under the operating lease agreement as of March 31, 2021 are as follows (in thousands):

Years Ending December 31,		Amount
2021 (remaining 9 months)		$	824
2022			2,454
Thereafter			—
Total undiscounted lease payments			3,278
Present value adjustment			(297	)
Total present value of lease payments		$	2,981

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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