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Note J - Leases

9 Months Ended

Sep. 30, 2022

J.	Leases

The Company has operating and finance leases for office space, laboratory facilities and various laboratory equipment, furniture and office equipment and leasehold improvements. The Company's leases have remaining lease terms of less than 1 year to approximately 4 years, some of which include options to extend the leases for up to 5 years, and some which include options to terminate the leases within 1 year.

Effective June 1, 2021, the Company agreed to sublease office space in Florida, comprised of one of the two contiguous suites, under a non-cancelable operating lease, which expires in February 2026.

The components of lease expense were as follows (in thousands):

	*Three months ended September 30,*						*Nine months ended September 30,*
Lease Cost	*2022*			*2021*			*2022*			*2021*
Finance lease cost:
Amortization of right-of-use assets	$	32		$	32		$	96		$	96
Interest on lease liabilities		0			2			1			9
Total finance lease cost		32			34			97			105
Operating lease cost		114			91			304			274
Short-term lease cost		53			50			155			149
Variable lease cost		13			13			39			34
Less: sublease income		(39	)		(39	)		(117	)		(52	)
Total lease costs	$	173		$	149		$	478		$	510

Supplemental cash flow information related to leases was as follows (in thousands):

	*Nine months ended September 30,*
	*2022*		*2021*
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	1	$	9
Financing cash flows from finance leases		13		156
Operating cash flows from operating leases		381		344
Operating cash flows from short-term leases		155		149
Operating cash flows from variable lease costs		39		34

Right-of-use assets obtained in exchange for lease liabilities:
Finance leases	$	—	$	—
Operating leases		146		—

Supplemental balance sheet information related to leases was as follows (in thousands, except weighted average remaining lease term and weighted average discount rate):

	*September 30,*			*December 31,*
	*2022*			*2021*
Finance Leases
Property and equipment, at cost	$	1,031		$	1,031
less: accumulated depreciation and amortization		(747	)		(651	)
Property and equipment, net	$	284		$	380

Other current liabilities	$	7		$	15
Other long-term liabilities		1			6
Total finance lease liabilities	$	8		$	21

Operating Leases
Operating lease right-of-use assets	$	1,068		$	1,141
Total operating lease right-of-use assets	$	1,068		$	1,141

Current portion of operating lease liabilities	$	474		$	356
Operating lease liabilities, less current portion		956			1,232
Total operating lease liabilities	$	1,430		$	1,588

Weighted Average Remaining Lease Term
Finance leases (years)		1			1
Operating leases (years)		3			4

Weighted Average Discount Rate
Finance leases		14.3	%		12.0	%
Operating leases		7.2	%		7.5	%

Maturities of lease liabilities were as follows (in thousands):

	*Finance*		*Operating*
Year Ending December 31,	*Leases*		*Leases*
2022 (excluding the nine months ended September 30, 2022)	$	2	$	131
2023		6		563
2024		—		488
2025		—		390
2026		—		30
Total lease payments		8		1,602
Less: future interest expense		0		(172	)
Lease liabilities	$	8	$	1,430