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Leases | 3 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
Leases | Leases 65 Grove Street Lease In July 2019, the Company entered into a lease for 25,078 square feet of laboratory and office space located at 65 Grove Street, Watertown, Massachusetts, or the Headquarters Lease. As part of the Headquarters Lease, the Company incurred $0.8 million in non-reimbursable construction costs. The lease began in March 2020, consistent with when the Company took control of the office space, and the lease term is 8 years. The discount rate of 8.9% was determined based on the Company’s incremental borrowing rate adjusted for the lease term including any reasonably certain renewal periods. In connection with the Headquarters Lease, the Company secured a letter of credit from Silicon Valley Bank, or SVB, for $1.4 million, recognized as long-term restricted cash, as of March 31, 2021 and December 31, 2020, respectively, which automatically renews each year. Moscow, Russia Lease The Company has a month-to-month facility agreement for its Moscow, Russia office. Rent expense is recognized as incurred. As of March 31, 2021 and December 31, 2020, the components of the operating leases were as follows (in thousands):
|  |  | March 31, |  | December 31,
|  |  |  |  | 2021 |  | 2020
Assets: |  |  |  |  |  |  |
Right-of-use asset, net |  |  |  |  | $ | 10,676 |  |  | $ | 10,948 |
Liabilities: |  |  |  |  |  |  |
Current operating lease liabilities |  |  |  |  | $ | 942 |  |  | $ | 908 |
Non-current operating lease liabilities |  |  |  |  | 9,403 |  |  | 9,647 |
Total operating lease liabilities |  |  |  |  | $ | 10,345 |  |  | $ | 10,555 |
For the three months ended March 31, 2021 and 2020 the components of lease costs were as follows (in thousands):
|  |  | March 31,
|  |  |  |  | 2021 |  | 2020
Operating lease cost |  |  |  |  | $ | 444 |  |  | $ | 472 |
Variable lease cost |  |  |  |  | 288 |  |  | 199 |
Short-term lease cost |  |  |  |  | 3 |  |  | 2 |
Total lease cost |  |  |  |  | $ | 735 |  |  | $ | 673 |
The maturity of the Company’s operating lease liabilities as of March 31, 2021 were as follows (in thousands):
| March 31, |  |
| 2021 |  |
2021 (remainder) | $ | 1,368 |  |  |
2022 | 1,866 |  |  |
2023 | 1,922 |  |  |
2024 | 1,980 |  |  |
2025 | 2,039 |  |  |
Thereafter | 4,945 |  |  |
Total future minimum lease payments | 14,120 |  |  |
Less imputed interest | 3,775 |  |  |
Total operating lease liabilities | $ | 10,345 |  |  |
The supplemental disclosure for the statement of cash flows related to operating leases were as follows (in thousands):
| March 31,
| 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: | $ | 444 |  |  | $ | 487 |
Other than the initial recording of the right-of-use asset and lease liability for the Headquarters Lease, which is non-cash, the changes in the Company’s right-of-use asset and lease liability for the three months ended March 31, 2021 and 2020 are reflected in the non-cash lease expense and accrued expenses and other liabilities, respectively, in the consolidated statements of cash flows. The following summarizes additional information related to operating leases:
| March 31,
| 2021 |  | 2020
Weighted-average remaining lease term | 7.1 years |  | 8.0 years
Weighted-average discount rate | 8.9 | % |  | 8.9 | %

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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