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

Annual report pursuant to Section 13 and 15(d)

Lease Agreement

Year Ended December 31,

Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows under operating leases

Lease Agreement

12 Months Ended

Dec. 31, 2021

7. Lease Agreement

The Company leases one facility in Emeryville, California under an operating lease that expires in February 2023. The Emeryville lease contains an option to extend the lease for an additional term, however, the Company is not reasonably certain to exercise this option.

The following table summarizes maturity of the Company’s operating lease liabilities as of December 31, 2021 (in thousands):


	Operating
Undiscounted lease payments	Leases
2022		202
2023		34
2024		—
Total undiscounted lease payments		236
Present value adjustment		(7)
Total net lease liabilities	$	229

The following table summarizes the cost components of the Company’s operating lease for the years ended December 31, 2021 and 2020, respectively (in thousands):


	Year Ended December 31,
	2021		2020
Lease costs:
Operating lease cost	$	177	$	177
Variable lease cost ⁽¹⁾		8		7
Total lease costs	$	185	$	184

(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, 2021 and December 31, 2020 were as follows:


	December 31,		December 31,
	2021		2020
Weighted-average remaining lease term	1.17 years		2.17 years
Weighted-average discount rate	5.51	%	5.51	%