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Leases | 12 Months Ended
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Dec. 31, 2022
Leases |
Leases | 9.Leases The Company leases approximately 47,789 square feet of office space for its corporate headquarters in Redwood City, California. This lease terminates in September 2024 and contains a one-time option to extend the lease term for five years. The Company also leases approximately 25,017 square feet for its laboratory facilities in Camarillo, California which commenced in January 2020. This lease terminates in May 2027 and contains a one-time option to extend the lease term for five years. Both facility leases provide for certain limited rent abatement and annual scheduled rent increases over their respective lease terms. The Company determined that the above facility leases were operating leases. The options to extend the lease terms for these leases were not included as part of the right-of-use asset or lease liability as it was not reasonably certain the Company would exercise those options. In 2019, the Company entered into the Vehicle Lease Agreement, pursuant to which the Company currently leases approximately 100 vehicles. Delivery of the vehicles commenced during the first quarter of 2020. The term of each leased vehicle is 36 months and commences upon the delivery of the vehicle. The vehicles leased under this arrangement were classified as finance leases. For the leases that commenced prior to January 1, 2019 (adoption date of ASC 842, Leases), the Company determined the present value of the lease payments using the incremental borrowing rate on that date. For all other leases, the Company used the incremental borrowing rate on the lease commencement or the lease modification date, as applicable. Supplemental information related to the Company’s leases is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | ​ | ​ | December 31,
Assets |  | Balance Sheet Classification |  | 2022 |  | 2021
Operating leases | ​ | Other assets, non-current | ​ | $ | 5,690 | ​ | $ | 8,193
Finance leases | ​ | Property and equipment, net | ​ | ​ | 2,584 | ​ | ​ | 1,220
Total leased assets | ​ | ​ | ​ | $ | 8,274 | ​ | $ | 9,413
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | ​ | ​ | December 31,
Liabilities |  | Balance Sheet Classification |  | 2022 |  | 2021
Operating lease liabilities, current | ​ | Accrued and other current liabilities | ​ | $ | 3,127 | ​ | $ | 2,751
Operating lease liabilities, non-current | ​ | Lease liabilities, non-current | ​ | ​ | 3,628 | ​ | ​ | 6,753
Total operating lease liabilities | ​ | ​ | ​ | $ | 6,755 | ​ | $ | 9,504
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease liabilities, current | ​ | Accrued and other current liabilities | ​ | $ | 1,191 | ​ | $ | 741
Finance lease liabilities, non-current | ​ | Lease liabilities, non-current | ​ | ​ | 1,418 | ​ | ​ | 498
Total finance lease liabilities | ​ | ​ | ​ | $ | 2,609 | ​ | $ | 1,239
​ Other information related to lease term and discount rate is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | December 31,
​ |  | ​ |  | 2022 |  | 2021
Weighted-Average Remaining Lease Term | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | ​ | ​ | 2.2 years | ​ | ​ | 3.2 years
Finance leases | ​ | ​ | ​ | ​ | 2.2 years | ​ | ​ | 1.7 years
Weighted-Average Discount Rate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | ​ | ​ | 8.0% | ​ | ​ | 8.0%
Finance leases | ​ | ​ | ​ | ​ | 8.4% | ​ | ​ | 5.8%
​ The components of lease expense were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Year Ended December 31,
(in thousands) | ​ | ​ | ​ | 2022 |  | 2021 | ​ | 2020
Finance lease cost |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use assets | ​ | ​ | ​ | $ | 1,228 |  | $ | 707 | ​ | $ | 368
Interest on lease liabilities | ​ | ​ | ​ | ​ | 166 | ​ | ​ | 82 | ​ | ​ | 57
Total finance lease cost | ​ | ​ | ​ | ​ | 1,394 |  | ​ | 789 | ​ | ​ | 425
Operating lease cost |  | ​ |  | ​ | 3,154 |  | ​ | 3,066 | ​ | ​ | 3,126
Total lease cost |  | ​ |  | $ | 4,548 |  | $ | 3,855 | ​ | $ | 3,551
​ Supplemental cash flow information related to leases was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Year Ended December 31,
(in thousands) | ​ | ​ | ​ | 2022 |  | 2021 | ​ | 2020
Cash paid for amounts included in measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | ​ |  | $ | 3,401 |  | $ | 3,435 | ​ | $ | 3,217
Operating cash flows from finance leases | ​ | ​ | ​ | $ | 155 | ​ | $ | 81 | ​ | $ | 53
Financing cash flows from finance leases | ​ | ​ | ​ | $ | 1,228 | ​ | $ | 672 | ​ | $ | 388
Right-of-use assets obtained in exchange for lease obligations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | ​ | ​ | $ | — | ​ | $ | 434 | ​ | $ | 1,388
Finance leases | ​ | ​ | ​ | $ | 2,694 | ​ | $ | 477 | ​ | $ | 1,817
​ As of December 31, 2022, the maturities of the lease liabilities were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Year ending December 31, (in thousands) | ​ | Operating leases | ​ | Finance leases
2023 | ​ | $ | 3,560 | ​ | $ | 1,354
2024 | ​ |  | 3,014 | ​ |  | 1,026
2025 | ​ |  | 412 | ​ |  | 481
2026 | ​ |  | 292 | ​ |  | —
2027 and thereafter | ​ | ​ | 124 | ​ | ​ | —
Total lease payments | ​ |  | 7,402 | ​ |  | 2,861
Less imputed interest | ​ |  | (647) | ​ |  | (252)
Lease liabilities | ​ | $ | 6,755 | ​ | $ | 2,609
​

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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 https://asc.fasb.org/subtopic&trid=77888251 + Details
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