Annual report pursuant to Section 13 and 15(d)

Property and Equipment (Tables)

v3.22.0.1
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Summary of Property and Equipment
Property and equipment as of December 31, 2021 and 2020 consisted of the following (in thousands):
 
  December 31,
  2021 2020
Furniture and equipment $ 185  $ 153 
Computers and software 56  56 
Right-of-use assets 2,001  918 
Leasehold improvements 739  657 
Total property and equipment 2,981  1,784 
Less accumulated depreciation (286) (177)
Property and equipment, net $ 2,695  $ 1,607 
Summary of Assets and Liabilities Lessee
Supplemental balance sheet information related to the leased properties include (in thousands):
  As of
  December 31, 2021 December 31, 2020
Property and equipment, net $ 2,001  $ 918 
Accrued expenses and other current liabilities $ 485  $ 426 
Other long-term liabilities 2,018  1,038 
Total operating lease liabilities $ 2,503  $ 1,464 
Components of Lease Expense The components of lease expense for the years ended December 31, 2021 and 2020 were as follows (in thousands):
  Year Ended December 31,
2021 2020
Operating lease cost* $ 393  $ 345 
*Includes short-term leases, which are immaterial.
Operating Lease Maturities
The following table shows a maturity analysis of the operating lease liability as of December 31, 2021 (in thousands):
 
  Undiscounted Cash Flows
2022 $ 485 
2023 528 
2024 537 
2025 547 
2026 557 
Thereafter 683 
Total lease payments $ 3,337 
Less implied interest (834)
Total $ 2,503