Quarterly report pursuant to Section 13 or 15(d)

Lease Agreements (Tables)

v3.24.3
Lease Agreements (Tables)
9 Months Ended
Sep. 30, 2024
Lease Agreements  
Schedule of maturity of future rent payments associated with new lease

The following table summarizes maturity of the Company’s operating lease liabilities as of September 30, 2024 (in thousands):

Year

Rent Payments

2024 (excluding the nine months ended September 30, 2024)

 

$

117

2025

502

2026

 

300

2027

 

91

2028

102

Thereafter

 

36

Total undiscounted lease payments

$

1,148

Present value adjustment

(120)

Total net lease liability for operating leases

$

1,028

Schedule of cost components of operating leases

The following table summarizes the cost components of the Company’s operating leases included in G&A in the condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023 (in thousands):

    

Three Months Ended September 30, 

    

Nine Months Ended September 30, 

2024

2023

2024

2023

Lease costs:

Operating lease cost

$

36

$

17

 

$

97

 

$

116

Variable lease cost (1)

 

 

20

 

18

 

32

Total lease costs

$

36

$

37

 

$

115

$

148

(1) Under the terms of the original, amended, and new lease agreements, 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.
Summary of supplemental cash flow information related to operating leases

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

    

Nine Months Ended September 30, 

    

2024

2023

Cash paid for amounts included in the measurement of lease liabilities

 

 

Operating cash flows under operating leases

$

68

$

121

Schedule of assumptions used in calculating the present value of lease payments

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

    

Nine Months Ended September 30, 

    

2024

2023

Cash paid for amounts included in the measurement of lease liabilities

 

 

Operating cash flows under operating leases

$

68

$

121

The assumptions used in calculating the present value of the lease payments for the Company’s operating leases as of September 30, 2024 and December 31, 2023 were as follows:

    

September 30, 

December 31, 

    

2024

2023

Weighted-average remaining lease term

2.7 years

5.33 years

Weighted-average discount rate

8.18

%

8.50

%