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LEASES (Tables)
 6 Months Ended
Jun. 30, 2023
LEASES [Abstract]  
Net Operating Lease Expense

For the six months ended June 30, 2023 and 2022, the net operating lease expenses were as follows (in thousands):

   
Three months ended June 30,
    
Six months ended June 30,
  
   
2023
    
2022
    
2023
    
2022
  
Operating lease expense
  
$
67
    
$
146
    
$
135
    
$
333
  
Sublease income
    
(21
)
    
(21
)
    
(42
)
    
(42
)
Variable lease expense
    
7
      
51
      
12
      
53
  
Total lease expense
  
$
53
    
$
176
    
$
105
    
$
344
  
Operating Lease Right-of-use Assets and Liabilities

The tables below show the beginning balances of the operating ROU assets and lease liabilities as of January 1, 2023 and the ending balances as of June 30, 2023, including the changes during the period (in thousands).


   
Operating Lease
ROU Assets
  
       
Operating lease ROU assets at January 1, 2023
  
$
1,030
  
Recognition of ROU asset for Somerville Sublease
     34,410  
Amortization of operating lease ROU assets
    
(83
)
Operating lease ROU assets at June 30, 2023
  
$
35,357
  


   
Operating Lease
Liabilities
  
Operating lease liabilities at January 1, 2023
  
$
1,182
  
Recognition of lease liability for Somerville Sublease
     34,169  
Principal payments on operating lease liabilties
    
(215
)
Operating lease liabilities at June 30, 2023
    
35,136
  
Less non-current portion
    
34,963
  
Current portion at June 30, 2023
  
$
173
  
Maturities of Operating Lease Liabilities The maturities of the operating lease liabilities are as follows (in thousands):


   
As of
June 30, 2023
  
2023
  
$
1,064
  
2024
    
5,931
  
2025
    
6,065
  
2026
    
6,227
  
2027
    
6,298
  
Thereafter
    
40,224
  
Total payments  
65,809
  
Less imputed interest     (30,673 )
Total operating lease liabilities   $ 35,136