The Company has historically entered into lease arrangements for its facilities. As of June 30, 2021, the Company had four operating leases with required future minimum payments. The Company’s leases generally do not include termination or purchase options.

In May 2021, the Company amended the lease agreement initially entered in June 2019 for office space in Cambridge, Massachusetts, to extend the lease term until October 2021. The amended agreement will result in $0.2 million of minimum lease payments over the five-month extended lease term.

In June 2021, the Company amended the lease agreement entered in June 2017 for office and laboratory space located in Montreal, Quebec, to extend the lease term until July 2025. The amended agreement will result in $0.5 million of minimum lease payments over the extended four-year lease term.

In July 2021, the Company entered into a new lease agreement for office space in Cambridge, Massachusetts, that has not commenced as of June 30, 2021. The agreement will result in $3.2 million of minimum lease payments over the three-year lease term.

In July 2021, the Company amended the lease agreement entered in November 2019 for office and laboratory space located in Montreal, Quebec, to include additional office space. As of June 30, 2021, the amended agreement has not commenced, and is expected to result in $1.1 million of minimum lease payments over the remaining lease term.

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the three and six months ended June 30, 2021 and 2020:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Operating Leases
Lease Costs
Operating lease costs	$	424	$	165	$	843	$	330
Short-term lease costs		2		1		5		4
Variable lease costs		54		39		110		92
Total lease costs	$	480	$	205	$	958	$	426

	Six Months Ended June 30,
	2021			2020
	(in thousands, except as specified otherwise)
Other Operating Lease Information
Operating cash flows used for operating leases	$	605		$	335
Right-of-use assets obtained in exchange for new operating lease liability	$	705		$	—
Weighted-average remaining lease term	3.9 years			1.37 years
Weighted-average discount rate		4.6	%		7.6	%