Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Lease Liabilities and Right-of-Use Assets

The table below summarizes the Company’s lease liabilities and corresponding right-of-use assets (in thousands, except year and rates):

	As of September 30, 2020
Assets
Operating	$	671
Financing	39
Total leased assets	$	710

Liabilities
Current:
Operating	$	140
Financing	39
Noncurrent:
Operating	545
Financing		—
Total lease liabilities	$	724

Weighted-average remaining lease term (years) - operating leases	6.53
Weighted-average remaining lease term (years) - finance leases	0.37
Weighted-average discount rate - operating leases		7.9	%
Weighted-average discount rate - finance leases		5.0	%

Summary of Lease Costs

The table below summarizes the Company’s lease costs from its consolidated condensed statement of operations and comprehensive loss, and cash payments from its consolidated condensed statement of cash flows during the three and nine months ended September 30, 2020 (in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Lease expense:
Operating lease expense	$	52	$	56	$	160	$	169
Finance lease expense:
Depreciation of right-of-use assets		32	32		95		85
Interest expense on lease liabilities	1		2		4		7
Total lease expense	$	85	$	90	$	259	$	261

Cash payment information:
Operating cash used for operating leases	$	56	$	38	$	155	$	147
Financing cash used for financing leases	42		1		93		75
Total cash paid for amounts included in the measurement of lease liabilities	$	98	$	39	$	248	$	222

Summary of Future Minimum Annual Lease Payments under Operating and Financing Leases

Total rent expense for the three and nine months ended September 30, 2020 was $48,000 and $177,000, respectively, which includes leases in the table above, month-to-month operating leases, and common area maintenance charges.

The Company’s future minimum annual lease payments under operating and financing leases at September 30, 2020 are as follows in (thousands):


	Financing Leases		Operating Leases

Remaining 2020	$	32	$	49
2021	7		183
2022	—		123
2023	—		100
Thereafter	—		447
Total minimum lease payments	$	39	$	902
Less: amount representing interest		—		(217	)
Present value of obligations under leases		39		685
Less: current portion		39		(140	)
Noncurrent lease obligations	$	—	$	545