XOMA Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Lease Agreements

Year Ended December 31,

Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows under operating leases

Lease Agreements

12 Months Ended

Dec. 31, 2022

7. Lease Agreement

The Company leases one facility in Emeryville, California under an operating lease that expires in February 2023. As of December 31, 2022, the total net lease liability from January 2023 until expiration of the lease was $34,000. In January 2023, the Company amended the lease to extend the lease period through July 2023 (Note 14).

The following table summarizes the cost components of the Company’s operating lease for the years ended December 31, 2022 and 2021, respectively (in thousands):


	Year Ended December 31,
	2022		2021
Lease costs:
Operating lease cost	$	177	$	177
Variable lease cost ⁽¹⁾		12		8
Total lease costs	$	189	$	185

(1)Under the terms of the lease agreement, the Company is also responsible for certain variable lease payments that are not included in the measurement of the lease liability. Variable lease payments include non-lease components such as common area maintenance fees.

The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands):

The present value assumptions used in calculating the present value of the lease payments for the Company’s operating lease as of December 31, 2022 and 2021 were as follows:


	December 31,		December 31,
	2022		2021
Weighted-average remaining lease term	0.17 years		1.17 years
Weighted-average discount rate	5.51	%	5.51	%