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Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Summary of Components of Lease Cost Components of lease cost for the three months ended March 31, 2023 and 2022, respectively, were as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2023

 

 

2022

 

Operating lease cost

 

$

83

 

 

$

73

 

Short-term lease cost

 

 

22

 

 

 

20

 

Variable lease cost

 

 

14

 

 

 

16

 

Total lease cost

 

$

119

 

 

$

109

 

Schedule of Lease Liabilities with Weighted Average Remaining Term and Weighted Average Discount Rate

Maturities of lease liabilities, weighted-average remaining term and weighted-average discount rate were as follows (in thousands):

 

 

 

As of March 31,

 

Year ending December 31,

 

 

 

2023 (remaining nine months)

 

$

225

 

2024

 

 

309

 

2025

 

 

318

 

2026

 

 

328

 

2027

 

 

337

 

Thereafter

 

 

2,044

 

Total minimum lease payments (1)

 

 

3,561

 

Less: amount representing interest

 

 

(973

)

Present value of lease liabilities

 

 

2,588

 

Less: current portion of lease liabilities

 

 

(144

)

Lease liabilities, noncurrent

 

$

2,444

 

(1) Excludes $5.5 million of legally binding minimum lease payments for leases not yet commenced

 

 

 

March 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Weighted-average remaining lease term (years) - operating leases

 

 

10.3

 

 

 

10.5

 

Weighted-average incremental borrowing rate - operating leases

 

 

6.50

%

 

 

6.50

%