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Lease Liabilities | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Lease liabilities | Note 7—Lease Liabilities We have operating leases related to our office and laboratory space. The initial term of the leases is through November 2027 and we have two options to extend the lease term, each by five years. We have finance leases for certain laboratory and office equipment that have lease terms expiring through December 2023. ​ As described further in Note 1 – “Organization and Significant Accounting Policies”, on January 1, 2019, we adopted ASU 2016-02, Leases, (Topic 842) using a modified retrospective approach versus recasting the prior periods presented. The lease-related assets and liabilities recorded on the balance sheet are as follows. Prior year interim financial statements were not recast under the new standard and, therefore, those amounts are not presented below. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Classification on the Balance Sheet |  | September 30, 2019 |
Assets | ​ | ​ |  | (In thousands) | ​
Operating lease assets |  | Right of use assets |  | $ | 21,302 | ​
Finance lease assets |  | Property and equipment, net | ​ |  | 2,774 | ​
Total lease assets | ​ | ​ |  | $ | 24,076 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​
Operating leases |  | Current portion of lease liabilities |  | $ | 1,927 | ​
Finance lease |  | Current portion of lease liabilities | ​ |  | 1,128 | ​
Non-current: | ​ | ​ | ​ | ​ | ​ | ​
Operating |  | Lease liability, non-current | ​ |  | 27,242 | ​
Finance |  | Lease liability, non-current | ​ |  | 1,412 | ​
Total lease liabilities | ​ | ​ |  | $ | 31,709 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average remaining lease term | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | ​ |  | 8.1 years | ​
Finance leases | ​ | ​ | ​ |  | 2.4 years | ​
Weighted-average discount rate | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | ​ |  | 12.85 | %
Finance leases | ​ | ​ | ​ |  | 12.26 | %
​ The components of total lease costs are as follows: ​
​ | ​ | ​ | ​
​ | ​ | Nine Months Ended
​ |  | September 30, 2019
​ |  | (In thousands)
Lease cost |  | ​ |
Operating lease cost | ​ | $ | 3,121
Finance lease cost: | ​ |  |
Amortization | ​ |  | 984
Interest | ​ |  | 248
Short-term lease cost | ​ |  | 275
Variable lease cost | ​ |  | 1,424
Sublease income | ​ |  | (673)
Total lease cost | ​ | $ | 5,379
​ The supplemental cash flow information related to leases during 2019 is as follows: ​
​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities |  | ​ | ​
Operating cash flows used for operating leases | ​ | $ | 4,962
Operating cash flows used for finance leases |  | $ | 248
Financing cash flows used for finance leases |  | $ | 813
​ The future maturities of our lease liabilities as of September 30, 2019 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Operating | ​ | Finance
​ |  | Leases |  | Leases
​ | ​ | (In thousands)
2019 | ​ | $ | 1,358 | ​ | $ | 342
2020 | ​ |  | 5,755 | ​ |  | 1,248
2021 | ​ |  | 5,826 | ​ |  | 889
2022 | ​ |  | 5,898 | ​ |  | 296
2023 | ​ |  | 5,972 | ​ |  | 95
Thereafter | ​ |  | 23,102 | ​ |  | —
Total undiscounted lease payments | ​ | ​ | 47,911 | ​ | ​ | 2,870
Less interest | ​ | ​ | 18,742 | ​ | ​ | 330
Lease liabilities | ​ | $ | 29,169 | ​ | $ | 2,540
​ In September 2019, we recognized a new lease component associated with additional office space in our headquarters building and recorded additional lease liability of $3.7 million. In October 2019, we leased additional office and laboratory space in our headquarters building and recorded the associated lease liability of $3.9 million.

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