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Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of Components of Lease Cost

The components of lease cost for the three and nine months ended September 30, 2023, and 2022, are as follows:


		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands)		2023				2022				2023				2022
Operating lease cost		$	366			$	578			$	1,559			$	1,619
Variable lease cost			161				247				792				643
Total lease cost		$	527			$	825			$	2,351			$	2,262

Schedule of Amounts Reported in Consolidated Balance Sheets for Leases

Amounts reported in the balance sheet for leases where the Company is the lessee as of September 30, 2023, and December 31, 2022, are as follows:


Operating Leases (in thousands, except lease term and discount rate data):		September 30, 2023				December 31, 2022
Right-of-use assets, operating leases		$	8,545			$	9,539

Operating lease liabilities, current		$	-			$	528
Operating lease liabilities, non-current			12,699				13,448
Total operating lease liabilities		$	12,699			$	13,976

Weighted-average remaining lease term (years)			8.67				9.08
Weighted-average discount rate			5.75	%			5.75	%

Summary of Other Information Related to Leases

Other information related to leases for the nine months ended September 30, 2023 and 2022, respectively, as follows:


		Nine Months Ended September 30,
(in thousands)		2023				2022
Net cash paid (received) for amounts included in the measurement of lease liabilities		$	1,842			$	(242	)
Leased assets obtained in exchange for new or modified operating lease liabilities			11				581

Schedule of Minimum Lease Payments, Net of Reimbursements, under Operating Leases

Future minimum lease payments, net of reimbursements, remaining as of September 30, 2023, under operating leases by fiscal year were as follows:


Fiscal year		(in thousands)
2023		$	(636	)
2024			1,814
2025			1,869
2026			1,925
2027			1,983
Thereafter			9,495
Total lease payments		$	16,450
Less: Present Value Adjustment			(3,751	)
Present value of lease payments		$	12,699