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Leases
6 Months Ended
Jun. 30, 2023
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.

Master Facility Lease

The Company currently leases office and lab space in San Diego that expires on February 28, 2027. The lease currently requires monthly payments of approximately $61,000 per month with 3% annual escalation.

The components of lease expense were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Operating lease cost$180 $190 $363 $381 
Supplemental balance sheet information related to leases was as follows:
(in thousands)As of June 30,
2023
As of December 31,
2022
Operating lease ROU assets$1,978 $2,251 
Current operating lease liabilities$683 $675 
Non-current operating lease liabilities1,753 2,040 
Total operating lease liabilities$2,436 $2,715 
Weighted-average remaining lease term–operating leases3.7 years4.2 years
Weighted-average discount rate–operating leases7.0 %7.0 %

Supplemental cash flow and other information related to leases was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$183 $180 $368 $251 

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
2023 (excluding the six months ended June 30, 2023)
$306 
2024754 
2025775 
2026796 
Thereafter136 
Total future minimum lease payments2,767 
Less imputed interest(331)
Total$2,436 
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.

Master Facility Lease

The Company currently leases office and lab space in San Diego that expires on February 28, 2027. The lease currently requires monthly payments of approximately $61,000 per month with 3% annual escalation.

The components of lease expense were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Operating lease cost$180 $190 $363 $381 
Supplemental balance sheet information related to leases was as follows:
(in thousands)As of June 30,
2023
As of December 31,
2022
Operating lease ROU assets$1,978 $2,251 
Current operating lease liabilities$683 $675 
Non-current operating lease liabilities1,753 2,040 
Total operating lease liabilities$2,436 $2,715 
Weighted-average remaining lease term–operating leases3.7 years4.2 years
Weighted-average discount rate–operating leases7.0 %7.0 %

Supplemental cash flow and other information related to leases was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$183 $180 $368 $251 

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
2023 (excluding the six months ended June 30, 2023)
$306 
2024754 
2025775 
2026796 
Thereafter136 
Total future minimum lease payments2,767 
Less imputed interest(331)
Total$2,436