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Leases | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Leases | Note 13: Leases The Company leases office and lab facilities and other equipment under non-cancellable operating leases with initial terms typically ranging from 1 to 5 years, expiring at various dates during 2024 through 2027, and requiring monthly payments ranging from less than $1,000 to $17,000. Certain leases include additional renewal options ranging from 1 to 5 years. AIM has classified all of its leases as operating leases. At September 30, 2024 and December 31, 2023, the balance of the right of use assets was $653,000 and $697,000, respectively, and the corresponding operating lease liability balance was $669,000 and $718,000, respectively. Right of use assets are recorded net of accumulated amortization of $404,000 and $363,000 as of September 30, 2024 and December 31, 2023, respectively. AIM recognized rent expense associated with these leases are follows: Schedule of AIM Recognized Rent Expense Associated with Operating Lease
|  | September 30, 2024 |  |  | September 30, 2023 |
|  | (in thousands) |
|  | September 30, 2024 |  |  | September 30, 2023 |
Lease costs: |  |  |  |  |  |  |  |
Operating lease costs |  | $ | 226 |  |  | $ | 214 |
Short-term and variable lease costs |  |  | 205 |  |  |  | 253 |
Total lease costs |  | $ | 431 |  |  | $ | 467 |
Classification of lease costs |  |  |  |  |  |  |  |
Research & development |  | $ | 358 |  |  | $ | 400 |
General and administrative |  |  | 73 |  |  |  | 67 |
Total lease costs |  | $ | 431 |  |  | $ | 467 |
The Company’s leases have remaining lease terms between 6 and 35 months. At September 30, 2024, the weighted-average remaining term was 32 months. At December 31, 2023, the weighted-average remaining term was 41 months. The Company’s weighted average incremental borrowing rate for its leases was 10.2% at September 30, 2024 and 10% at December 31, 2023. Future minimum payments as of September 30, 2024, are as follows: Schedule of Operating Lease Future Payments
Year Ending December 31, (in thousands) |  |  |
2024 |  | $ | 78 |
2025 |  |  | 276 |
2026 |  |  | 244 |
2027 |  |  | 159 |
Thereafter |  |  | — |
Less imputed interest |  |  | (88 | )
Total |  | $ | 669 |

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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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