XML 25 R15.htm IDEA: XBRL DOCUMENT

Leases

6 Months Ended

Jun. 30, 2022

Note 9—Leases

We have an operating lease for our office and laboratory facilities with an initial term that ends in 2027 with two options to extend the lease term by five years. On January 14, 2022, we entered into an agreement with our landlord to early terminate a portion of the rentable square footage of our office and laboratory facilities, which reduced the right of use asset by $4.7 million and related liability by $5.2 million. We recorded a non-cash gain of $0.5 million to early terminate the lease. In addition, we carry various finance leases for laboratory equipment.

Supplemental lease information is as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021

	(In thousands)				(In thousands)
Lease cost
Operating lease cost	$	1,663	$	1,984	$	2,870	$	3,567
Finance lease cost:
Amortization		122		288		320		611
Interest		36		40		92		89
Variable lease cost		722		992		1,582		1,804
Sublease income		(453)		(423)		(945)		(841)
Net lease cost	$	2,090	$	2,881	$	3,919	$	5,230

Cash paid for amounts included in the measurement of lease liabilities is as follows:


	Six Months Ended
	June 30,
	2022		2021

	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Cash payments for operating leases	$	3,562	$	3,578
Cash payments for financing leases	$	401	$	436