Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2023

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	March 31, 2023		December 31, 2022
Operating lease liabilities:
Current portion of lease liabilities	$	674	$	671
Long-term portion of lease liabilities	$	2,100	$	2,210

Summary of Future Minimum Lease Payments

As of March 31, 2023, the maturities of our operating lease liabilities were as follows (in thousands):


	Amount
April 1, 2023—December 31, 2023	$	531
Year ending December 31:
2024		721
2025		736
2026		750
2027		702

Total lease payments		3,440
Less: Present value adjustment		(666	)

Operating lease liabilities		2,774

Lease, Cost

Lease costs under the terms of the Company’s leases for the three months ended March 31, 2023 and 2022 were as follows (in thousands):


	March 31,
	2023		2022
Operating lease cost (1)	$	151	$	153
Variable lease costs (2)		30		40

Total lease cost	$	181	$	193

(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.