Quarterly report pursuant to Section 13 or 15(d)

Lease

v3.20.2
Lease
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Lease

6. Lease

In August 2017, the Company entered into a lease agreement to lease 24,357 square feet of combination laboratory and office space in South San Francisco, California. This lease expires in February 2025.

Information related to the Company’s ROU asset and related lease liabilities were as follows (in thousands):

 

 

Three months ended

September 30, 2020

 

Nine months ended

September 30, 2020

 

Cash paid for operating lease liabilities

$

230

 

$

665

 

Operating lease costs

 

275

 

 

825

 

Variable lease costs

 

136

 

 

347

 

 

 

 

 

 

 

 

Maturities of lease liabilities as of September 30, 2020 were as follows

   for the years ending December 31:

 

 

 

 

 

 

2020

 

 

 

$

376

 

2021

 

 

 

 

1,542

 

2022

 

 

 

 

1,588

 

2023

 

 

 

 

1,635

 

2024

 

 

 

 

1,684

 

Thereafter

 

 

 

 

282

 

Total undiscounted lease payments

 

 

 

 

7,107

 

Less: imputed interest

 

 

 

 

(1,408

)

Total lease liabilities

 

 

 

$

5,699

 

 

 

 

 

 

 

 

Operating lease liabilities, current

 

 

 

 

1,005

 

Operating lease liabilities, noncurrent

 

 

 

 

4,694

 

Total operating lease liabilities

 

 

 

$

5,699