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Commitments
 12 Months Ended
Dec. 31, 2021
Commitments  
Commitments

7.    Commitments

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In November 2019, the Company entered into a sublease for office space which was classified as an operating lease. At inception of the lease, the Company recognized a lease liability and right-of-use asset of approximately $1.7 million. The lease liability represents the present value of the remaining lease payments, discounted using the Company’s estimated incremental borrowing rate of 7.49%. The ROU asset represents the lease liability adjusted for any prepaid and accrued rent payments.

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The lease is scheduled to expire in 2022. Future minimum payments required under the non-cancelable operating leases as of December 31, 2021 are $0.4 million.

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Rent expense was $0.7 million and $0.8 million for the years ended December 31, 2021 and 2020, respectively. Lease payments were $0.7 million and $1.5 million for the years ended December 31, 2021 and 2020, respectively.