XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.23.2

Commitments and Contingencies | 6 Months Ended
--- | ---
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | 5. Commitments and Contingencies Leases The Company leases its offices and laboratory in Brisbane, California, or the Brisbane Lease, under a ten-year noncancelable lease agreement that ends in October 2031 with a ten-year renewable option. In November 2021, the Company subleased unoccupied space for two years starting from December 2021 for aggregate sublease payments of $3.4 million. The sublease income, while it reduces the rent expense, is not considered in the value of the right-of-use assets or lease liabilities. The Company’s sublease income was $0.6 million and $0.4 million for the three months ended June 30, 2023 and 2022, respectively, and $1.1 million and $0.8 million for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023, the operating lease right-of-use assets were $18.6 million and lease liabilities were $32.0 million on the condensed consolidated balance sheet. The weighted-average remaining lease term is 8.3 years. The weighted-average incremental borrowing rate used to measure the operating lease liability is 8.4%. Operating lease costs were $0.5 million for each of the three months ended June 30, 2023 and 2022, and $1.1 million and $1.0 million for the six months ended June 30, 2023 and 2022, respectively. Variable lease payments were $0.4 million and $0.3 million for the three months ended June 30, 2023 and 2022, respectively, and $0.7 million and $0.6 million for the six months ended June 30, 2023 and 2022, respectively. Future minimum lease payments and related lease liabilities as of June 30, 2023, were as follows:
|  | (in thousands) |
2023 (remaining six months) |  |  | 1,985 |
2024 |  |  | 4,893 |
2025 |  |  | 5,065 |
2026 |  |  | 5,242 |
2027 and thereafter |  |  | 28,025 |
Total undiscounted lease payments |  |  | 45,210 |
Less: Imputed interest |  |  | (13,196 | )
Total |  | $ | 32,014 |
Guarantees and Indemnifications In the normal course of business, the Company enters into agreements that contain a variety of representations and provide for general indemnification. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future. To date, the Company has no t paid any claims or been required to defend any action related to its indemnification obligations. As of June 30, 2023, the Company did no t have any material indemnification claims that were probable or reasonably possible and consequently has not recorded related liabilities.

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI https://asc.fasb.org/topic&trid=2144648 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 440 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6491277&loc=d3e6429-115629 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI https://asc.fasb.org/topic&trid=2127136 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration