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Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments

Future minimum lease payments for all three leases, net of $5.9 million expected to be received and intended to be used related to the remaining tenant improvement allowance and rent credits associated with the 60 First Street Lease, as of June 30, 2024 were as follows (in thousands):

 

As of
June 30, 2024

 

2024

 

$

(3,959

)

2025

 

 

6,247

 

2026

 

 

7,341

 

2027

 

 

7,557

 

Thereafter

 

 

52,498

 

Total Future Minimum Leases Payments

 

 

69,684

 

Less: Interest

 

 

(31,223

)

Present Value of Operating Lease Liabilities

 

$

38,461

 
Schedule of Lease Costs

The following table summarizes the effect of lease costs in the Company’s condensed consolidated statement of operations and comprehensive loss of its operating leases (in thousands):

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Operating lease costs

 

$

2,108

 

 

$

1,422

 

 

$

4,258

 

 

$

1,902

 

Variable Lease Costs

 

 

466

 

 

 

231

 

 

 

825

 

 

 

489

 

Short-term Lease Costs

 

 

252

 

 

 

178

 

 

 

662

 

 

 

359

 

Total Lease Costs

 

$

2,826

 

 

$

1,831

 

 

$

5,745

 

 

$

2,750