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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]  
Summary of Quantitative Information Associated with Amounts Recognized in Unaudited Condensed Consolidated Financial Statements for Lease The following table summarizes certain quantitative information associated with the amounts recognized in the unaudited condensed consolidated financial statements for the Lease (dollars in thousands):

 

 

 

Three Months Ended

March 31, 2021

 

 

Three Months Ended

March 31, 2020

 

Operating lease cost

 

$

166

 

 

$

166

 

Variable lease cost

 

 

(2

)

 

 

21

 

Total operating lease expense

 

$

164

 

 

$

187

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of operating lease liability

 

$

170

 

 

$

167

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2021

 

 

March 31, 2020

 

Remaining Lease term (years)

 

8.34

 

 

 

9.34

 

Discount rate

 

 

15

%

 

 

15

%

 

 

Future Minimum Lease Payments Future minimum lease payments for the Lease as of March 31, 2021 are as follows (in thousands):

 

 

 

March 31, 2021

 

2021

 

$

347

 

2022

 

 

527

 

2023

 

 

715

 

2024

 

 

730

 

2025

 

 

744

 

Thereafter

 

 

2,789

 

Total

 

$

5,852

 

 

Presentation of Operating Lease Liability

The presentations of the operating lease liability as of March 31, 2021 are as follows (in thousands):

 

 

 

March 31, 2021

 

Present value of future minimum lease payments

 

$

3,272

 

 

 

 

 

 

Operating lease liability, current portion

 

$

57

 

Operating lease liability, long-term portion

 

 

3,215

 

Total operating lease liability

 

$

3,272

 

 

 

 

 

 

Difference between future minimum lease payments and discounted cash flows

 

$

2,580