Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.23.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2023
Leases  
SUMMARY OF OPERATING LEASE LIABILITIES

The following table provides a summary of the Company’s operating lease liabilities (in thousands):

 

 

    September 30, 2023     December 31, 2022  
             
Current operating lease liability   $ 1,649     $ 1,773  
Non-current lease liability     4,043       5,854  
Total lease liability   $ 5,692     $ 7,627  
SCHEDULE OF COMPONENTS OF LEASE COST

Lease costs and rent are reflected in general and administrative expenses and research and development expenses in the condensed consolidated statements of operations and comprehensive loss, as determined by the underlying activities. The following table provides a summary of the components of lease costs and rent (in thousands):

  

    2023     2022     2023     2022  
    For the three months ended September 30,     For the nine months ended September 30,  
    2023     2022     2023     2022  
                         
Operating lease cost   $ 340     $ 467     $ 1,048     $ 1,400  
Variable lease cost     66       154       281       366  
Short-term lease cost     19       17       50       58  
Total operating lease costs   $ 425     $ 638     $ 1,379     $ 1,824  
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Future minimum lease payments and obligations, which do not include short-term leases, of the Company’s operating lease liabilities as of September 30, 2023 were as follows (in thousands):

  

Future minimum lease payments and obligations   Operating Leases  
       
2023, remainder   $ 403  
2024     993  
2025     1,552  
2026     791  
2027     807  
Thereafter     2,516  
Total undiscounted operating lease payments     7,062  
Less: imputed interest     1,370  
Present value of operating lease liabilities   $ 5,692  
SCHEDULE OF FUTURE CASH RECEIPTS FROM OPERATING SUBLEASE

Future cash receipts from the Company’s sublease agreements as of September 30, 2023 are as follows (in thousands):

  

    Operating  
Future cash receipts   Subleases  
       
2023, remainder   $ 156  
2024     634  
2025     485  
Total future cash receipts   $ 1,275