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Leases | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Leases | 7. Leases The Company’s headquarters are located in Irvine, California, where it leases office space under a lease agreement that expires in November 2026. The Company leases additional office space located in Sandwich, United Kingdom under a lease agreement that expires in October 2027, with an option to early terminate in October 2025 with no termination fee. In January 2024, the Company exercised its early termination option. Other information related to the Company’s operating leases as of the balance sheet dates presented are as follows:
|  | As of March 31, |
|  | 2024 |  |  | 2023 |
Weighted incremental borrowing rate |  |  | 5 | % |  |  | 5 | %
Weighted average remaining lease term (in years) |  |  | 2.5 |  |  |  | 3.8 |
Cash paid for amounts included in the measurement of lease liabilities (in thousands) |  | $ | 96 |  |  | $ | 142 |
Lease expense (in thousands) |  | $ | 83 |  |  | $ | 120 |
Maturities of lease liabilities by fiscal year for the Company’s operating leases are as follows (in thousands):
|  | As of March 31, 2024 |
2024 (remaining nine months) |  | $ | 293 |
2025 |  |  | 371 |
2026 |  |  | 285 |
Total lease payments |  |  | 949 |
Less: Imputed interest |  |  | (42 | )
Present value of lease liabilities |  | $ | 907 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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