XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.21.2

Leases | 6 Months Ended
--- | ---
Jun. 30, 2021
Leases [Abstract] |
Leases | Leases As a lessee, the Company’s current leases include its master facility lease and immaterial equipment leases, all of which are considered operating leases. The Company (as a sublessor) also subleases portions of its facility to third parties under three separate subleases. All of these subleases have been determined to be operating leases and are accounted for separately from the head lease. Master Facility Lease The Company leases a building in San Diego under an operating lease that expires on December 31, 2021. The lease currently requires fixed monthly rent payments of approximately $80,000, with 3% annual escalation. During July 2021, the Company entered into an amended lease agreement to continue leasing 12,300 square feet of the 26,100 square feet from the lease that expires at year end. See Note 11 to the condensed financial statements for further information regarding the amended lease agreement. Facility Subleases As a result of corporate restructurings in previous years, the Company vacated a portion of its facility and has subleased the space to third parties under three separate sublease agreements, which all expire December 31, 2021. The components of lease expense were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Operating lease cost | $ | 92 |  |  | $ | 139 |  |  | $ | 187 |  |  | $ | 246 |
Operating sublease income | (101) |  |  | (73) |  |  | (202) |  |  | (146) |
Net operating lease cost | $ | (9) |  |  | $ | 66 |  |  | $ | (15) |  |  | $ | 100 |
Supplemental balance sheet information related to leases was as follows:
(in thousands) | As of June 30, 2021 |  | As of December 31, 2020
Operating lease ROU assets | $ | 178 |  |  | $ | 343 |
Current operating lease liabilities | $ | 402 |  |  | $ | 860 |
Non-current operating lease liabilities | 6 |  |  | 9 |
Total operating lease liabilities | $ | 408 |  |  | $ | 869 |
Weighted-average remaining lease term–operating leases | 0.5 years |  | 1.0 year
Weighted-average discount rate–operating leases | 6.5 | % |  | 6.5 | %
Supplemental cash flow and other information related to leases was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 243 |  |  | $ | 236 |  |  | $ | 483 |  |  | $ | 469 |
Total remaining annual commitments under non-cancelable lease agreements for each of the years ended December 31 are as follows:
(in thousands) |  |  |  |  |
Year Ending December 31, | Operating Leases |  | Sublease Income |  | Net Operating Leases
2021 (excluding the six months ended June 30, 2021) | $ | 406 |  |  | $ | (202) |  |  | $ | 204 |
2022 | 6 |  |  | — |  |  | 6 |
2023 | 3 |  |  | — |  |  | 3 |
Total future minimum lease payments | 415 |  |  | $ | (202) |  |  | $ | 213 |
Less imputed interest | (7) |  |  |  |  |
Total | $ | 408 |  |  |  |  |
Leases | Leases As a lessee, the Company’s current leases include its master facility lease and immaterial equipment leases, all of which are considered operating leases. The Company (as a sublessor) also subleases portions of its facility to third parties under three separate subleases. All of these subleases have been determined to be operating leases and are accounted for separately from the head lease. Master Facility Lease The Company leases a building in San Diego under an operating lease that expires on December 31, 2021. The lease currently requires fixed monthly rent payments of approximately $80,000, with 3% annual escalation. During July 2021, the Company entered into an amended lease agreement to continue leasing 12,300 square feet of the 26,100 square feet from the lease that expires at year end. See Note 11 to the condensed financial statements for further information regarding the amended lease agreement. Facility Subleases As a result of corporate restructurings in previous years, the Company vacated a portion of its facility and has subleased the space to third parties under three separate sublease agreements, which all expire December 31, 2021. The components of lease expense were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Operating lease cost | $ | 92 |  |  | $ | 139 |  |  | $ | 187 |  |  | $ | 246 |
Operating sublease income | (101) |  |  | (73) |  |  | (202) |  |  | (146) |
Net operating lease cost | $ | (9) |  |  | $ | 66 |  |  | $ | (15) |  |  | $ | 100 |
Supplemental balance sheet information related to leases was as follows:
(in thousands) | As of June 30, 2021 |  | As of December 31, 2020
Operating lease ROU assets | $ | 178 |  |  | $ | 343 |
Current operating lease liabilities | $ | 402 |  |  | $ | 860 |
Non-current operating lease liabilities | 6 |  |  | 9 |
Total operating lease liabilities | $ | 408 |  |  | $ | 869 |
Weighted-average remaining lease term–operating leases | 0.5 years |  | 1.0 year
Weighted-average discount rate–operating leases | 6.5 | % |  | 6.5 | %
Supplemental cash flow and other information related to leases was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 243 |  |  | $ | 236 |  |  | $ | 483 |  |  | $ | 469 |
Total remaining annual commitments under non-cancelable lease agreements for each of the years ended December 31 are as follows:
(in thousands) |  |  |  |  |
Year Ending December 31, | Operating Leases |  | Sublease Income |  | Net Operating Leases
2021 (excluding the six months ended June 30, 2021) | $ | 406 |  |  | $ | (202) |  |  | $ | 204 |
2022 | 6 |  |  | — |  |  | 6 |
2023 | 3 |  |  | — |  |  | 3 |
Total future minimum lease payments | 415 |  |  | $ | (202) |  |  | $ | 213 |
Less imputed interest | (7) |  |  |  |  |
Total | $ | 408 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration