Leases (Tables)

9 Months Ended

Sep. 30, 2020

The following table summarizes the Company’s operating and financing leases as of and for the nine months ended September 30, 2020:

(in thousands)	US			Ireland			Total
Lease cost
Operating lease cost	$	353		$	156		$	509
Financing lease cost	27				—			27
Sublease income		—			(162	)		(162	)
Total	$	380		$	(6	)	$	374

Other information
Operating cash flows out from operating leases		(353	)		(156	)		(509	)
Operating cash flows in from operating leases		-			162			162
Operating cash flows out from financing leases		(26	)		—			(26	)
Right-of-use assets exchanged for new operating lease liabilities		729			—			729
Weighted average remaining lease term		2.4			0.8
Weighted average discount rate - operating leases		8	%		8	%

Remaining maturities of the Company’s operating leases, excluding short-term leases, are as follows:

(in thousands)	US			Ireland			Total
Year ended December 31, 2020	$	118		$	55		$	173
Year ended December 31, 2021		416			128			544
Year ended December 31, 2022		406			-			406
Year ended December 31, 2023		68			-			68
Total		1,008			183			1,191
Less present value discount		(86	)		(7	)		(93	)
Operating lease liabilities included in the condensed consolidated balance sheets at September 30, 2020	$	922		$	176		$	1,098