Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.24.1.1.u2
LEASES (Tables)
3 Months Ended
Mar. 31, 2024
Leases  
SUMMARY OF OPERATING LEASE LIABILITIES

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

 

    March 31, 2024     December 31, 2023  
             
Current operating lease liability   $ 1,044     $ 998  
Non-current operating lease liability     4,046       4,402  
Total operating lease liability   $ 5,090     $ 5,400  
SCHEDULE OF COMPONENTS OF LEASE COST

Lease costs and rent are reflected in general and administrative expenses and research and development expenses in the 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):

  

    2024     2023  
    For the three months ended March 31,  
    2024     2023  
             
Operating lease cost   $ 334     $ 415  
Variable lease cost     74       39  
Short-term lease cost     23       18  
Total operating lease costs   $ 431     $ 472  
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Future minimum lease payments and obligations, which do not include short-term leases, related to the Company’s operating lease liabilities as of March 31, 2024 were as follows (in thousands):

  

Future minimum lease payments and obligations   Operating Leases  
       
2024, remainder   $ 591  
2025     1,555  
2026     791  
2027     807  
2028     823  
Thereafter     1,693  
Total undiscounted operating lease payments     6,260  
Less: imputed interest     1,170  
Present value of operating lease liabilities   $ 5,090  
SCHEDULE OF FUTURE CASH RECEIPTS FROM OPERATING SUBLEASE

 

    Operating  
Future cash receipts   Subleases  
       
2024, remainder   $ 477  
2025     485  
Total future cash receipts   $ 962