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Commitments and Contingencies
 3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Operating Lease Obligations

The Company currently leases office spaces and laboratory spaces located in Greater Los Angeles, California, Dallas, Texas, the United Kingdom and other parts of the United States. The Company's leased facilities have original lease terms ranging from 2 to 5 years that predominately require the Company to provide a security deposit, while certain leases provide the right for the Company to renew the lease upon the expiration of the initial lease term, and various leases have scheduled rent increases on an annual basis. The exercise of lease renewal options for the Company’s existing leases is at the Company’s sole discretion, and not included in the measurement of ROU asset or lease liability as they are not reasonably certain to be exercised. Certain leases provide free rent, or tenant improvement allowances, of which certain of these improvements have been classified as leasehold improvements and are being amortized over the shorter of the estimated useful life of the improvements or the remaining life of the lease, while other tenant improvements incurred by the Company revert to the landlord at the expiration of the lease and are not assets on the Company's condensed consolidated balance sheets.

Information related to the Company's operating ROU assets and related lease liability was as follows (in thousands, except for years and percentages):

The Company's lease costs consist of the following (in thousands):
Three Months Ended March 31, 2022
Short-term lease cost$167
Operating lease cost1,323
Variable leases cost218
Total lease cost$1,708

The following table summarizes cash flow information related to the Company’s lease obligations (in thousands):

Three Months Ended March 31, 2022
Cash paid for operating lease liabilities$605 

The following table summarizes the Company’s lease assets and liabilities (in thousands):

As of March 31, 2022
Operating lease right-of-use assets$14,497 
Current operating lease liabilities$1,914 
Non-current operating lease liabilities$6,526 

The following table summarizes other supplemental information related to the Company’s lease obligations:

As of March 31, 2022
Weighted-average remaining lease term (in years)4.10
Weighted-average discount rate6.75 %

Future minimum lease payments under operating lease liabilities were (in thousands):

As of March 31, 2022
2022 (remaining nine months)$1,799 
20232,351 
20242,214 
20251,940 
20261,276 
Total future lease payments9,580 
Less: imputed interest1,140 
Total lease liability balance8,440 
Less: current portion of operating lease liabilities 1,914 
Total operating lease liabilities, non-current$6,526 

Under ASC 840, rent expense recognized under the leases was $0.5 million for the three months ended March 31, 2021.
Future minimum lease payments under noncancellable operating leases were (in thousands):

As of December 31, 2021
2022$2,411 
20232,354 
20242,215 
20251,936 
20261,272 
Total$10,188 
Legal Proceedings
From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of its business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made and that such expenditures can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. The Company does not expect that the resolution of these matters will have a material adverse effect on its financial position, results of operations or cash flows.

Tarzana Land and Building Acquired
The Company’s contractual commitments for the acquired land and buildings in the Tarzana, California development project are limited to unreimbursed spend by the general contractor and as such, as of March 31, 2022, and December 31, 2021, $52.0 million and $63.2 million, respectively, is contractually committed to the development of this project.
Commitments and Contingencies Commitments and Contingencies
Operating Lease Obligations

The Company currently leases office spaces and laboratory spaces located in Greater Los Angeles, California, Dallas, Texas, the United Kingdom and other parts of the United States. The Company's leased facilities have original lease terms ranging from 2 to 5 years that predominately require the Company to provide a security deposit, while certain leases provide the right for the Company to renew the lease upon the expiration of the initial lease term, and various leases have scheduled rent increases on an annual basis. The exercise of lease renewal options for the Company’s existing leases is at the Company’s sole discretion, and not included in the measurement of ROU asset or lease liability as they are not reasonably certain to be exercised. Certain leases provide free rent, or tenant improvement allowances, of which certain of these improvements have been classified as leasehold improvements and are being amortized over the shorter of the estimated useful life of the improvements or the remaining life of the lease, while other tenant improvements incurred by the Company revert to the landlord at the expiration of the lease and are not assets on the Company's condensed consolidated balance sheets.

Information related to the Company's operating ROU assets and related lease liability was as follows (in thousands, except for years and percentages):

The Company's lease costs consist of the following (in thousands):
Three Months Ended March 31, 2022
Short-term lease cost$167
Operating lease cost1,323
Variable leases cost218
Total lease cost$1,708

The following table summarizes cash flow information related to the Company’s lease obligations (in thousands):

Three Months Ended March 31, 2022
Cash paid for operating lease liabilities$605 

The following table summarizes the Company’s lease assets and liabilities (in thousands):

As of March 31, 2022
Operating lease right-of-use assets$14,497 
Current operating lease liabilities$1,914 
Non-current operating lease liabilities$6,526 

The following table summarizes other supplemental information related to the Company’s lease obligations:

As of March 31, 2022
Weighted-average remaining lease term (in years)4.10
Weighted-average discount rate6.75 %

Future minimum lease payments under operating lease liabilities were (in thousands):

As of March 31, 2022
2022 (remaining nine months)$1,799 
20232,351 
20242,214 
20251,940 
20261,276 
Total future lease payments9,580 
Less: imputed interest1,140 
Total lease liability balance8,440 
Less: current portion of operating lease liabilities 1,914 
Total operating lease liabilities, non-current$6,526 

Under ASC 840, rent expense recognized under the leases was $0.5 million for the three months ended March 31, 2021.
Future minimum lease payments under noncancellable operating leases were (in thousands):

As of December 31, 2021
2022$2,411 
20232,354 
20242,215 
20251,936 
20261,272 
Total$10,188 
Legal Proceedings
From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of its business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made and that such expenditures can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. The Company does not expect that the resolution of these matters will have a material adverse effect on its financial position, results of operations or cash flows.

Tarzana Land and Building Acquired
The Company’s contractual commitments for the acquired land and buildings in the Tarzana, California development project are limited to unreimbursed spend by the general contractor and as such, as of March 31, 2022, and December 31, 2021, $52.0 million and $63.2 million, respectively, is contractually committed to the development of this project.