Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Classification of Lease Liabilities

The balance sheet classification of the Company’s lease liabilities was as follows (in thousands):


Description	June 30, 2022		December 31, 2021
Operating lease liabilities:
Current portion of lease liabilities	$	664	$	657
Long-term portion of lease liabilities	$	2,414	$	2,609

Summary of Future Minimum Lease Payments

As of June 30, 2022, the maturities of our operating lease liabilities were as follows (in thousands):


	Amount
July 1, 2022 - December 31, 2022	$	347
Year ending December 31:
2023		707
2024		721
2025		736
2026		750
Thereafter		702

Total lease payments		3,963
Less: Present value adjustment		(885	)

Operating lease liabilities	$	3,078

Lease, Cost

Lease costs under the terms of the Company’s leases for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Operating lease cost (1)	$	154	$	154	$	307	$	307
Variable lease costs (2)		42		35		81		65

Total lease cost	$	196	$	189	$	388	$	372

(1)	Operating lease payments included in the measurement of the Company’s lease liabilities are comprised of fixed payments according to the terms of the Company’s leases.

(2)

Variable lease payments consist of the Company’s utility costs billed by and paid to its landlord. Variable lease payments are presented as operating expenses in the Company’s Consolidated Statement of Operations in the same line item as expense arising from fixed lease payments and in net cash used in operating activities in the Company’s Statement of Cash Flows.