Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.19.3
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of new accounting pronouncements
The following table shows the reconciliation of right-of-use assets and lease obligations, with balances reflecting the adoption of ASC 842, related to both operating leases and finance leases and gives effect to the modified retrospective adoption and effective date method under the lease guidance on January 1, 2019 (in thousands):
 
Operating leases
 
Finance Leases
Right-of-use assets, balance at December 31, 2018
$

 
$

Changes in the period:
 
 
 
Right-of-use assets created upon adoption of ASC 842
26,617

 
493

Right-of-use assets, balance at January 1, 2019
$
26,617

 
$
493

 
 
 
 
Lease obligations, balance at December 31, 2018
$

 
$

Changes in the period:
 
 
 
Lease obligations created upon adoption of ASC 842
27,562

 
302

Lease obligations, balance at January 1, 2019
$
27,562

 
$
302



Lease cost
Lease related expenses under non-cancellable finance and operating leases and under non-cancellable subleases as follows (in thousands except discount rate and lease term):
 
Three months ended September 30, 2019
 
Nine months ended September 30, 2019
Lease costs
 
 
 
Finance lease cost:


 
 
Amortization of right-of-use assets
$
54

 
$
163

Interest on lease obligations
2

 
8

Operating lease cost
1,139

 
3,417

Sublease income
(262
)
 
(727
)
   Total lease cost
$
933

 
$
2,861

 
 
 
 
Other information
 
 
 
Weighted-average remaining lease term (in years):
 
 
 
Finance leases
 
 
0.5

Operating leases
 
 
7.9

 
 
 
 
Weighted-average discount rate:
 
 
 
Finance leases


 
5.0
%
Operating leases


 
6.6
%
 
 
 
 
Cash paid for amounts included in the measurement of lease obligations


 
 
Operating cash flows from operating leases


 
$
(2,456
)
Operating cash flows from finance leases


 
$
(9
)
Financing cash flows from finance leases


 
$
(180
)

Operating lease maturity
As of September 30, 2019, under ASC 842, maturity analysis of annual undiscounted cash flows of the non-cancellable finance and operating leases are as follows (in thousands):
Years ending December 31,
Finance Leases
 
Operating Leases
2019 (remaining 3 months)
$
63

 
$
824

2020
61

 
2,816

2021

 
4,197

2022

 
4,285

2023

 
4,589

2024 and thereafter

 
18,220

Total minimum lease payments (1)
$
124

 
$
34,931

Less: imputed interest
(2
)
 
(8,484
)
Lease Obligations
$
122

 
$
26,447

(1) Minimum payments have not been reduced by future minimum sublease rentals of $0.3 million to be received under non-cancellable subleases at September 30, 2019.

Finance lease liability
As of September 30, 2019, under ASC 842, maturity analysis of annual undiscounted cash flows of the non-cancellable finance and operating leases are as follows (in thousands):
Years ending December 31,
Finance Leases
 
Operating Leases
2019 (remaining 3 months)
$
63

 
$
824

2020
61

 
2,816

2021

 
4,197

2022

 
4,285

2023

 
4,589

2024 and thereafter

 
18,220

Total minimum lease payments (1)
$
124

 
$
34,931

Less: imputed interest
(2
)
 
(8,484
)
Lease Obligations
$
122

 
$
26,447

(1) Minimum payments have not been reduced by future minimum sublease rentals of $0.3 million to be received under non-cancellable subleases at September 30, 2019.

Schedule of future operating lease payments
As of December 31, 2018, under ASC 840, maturity analysis of annual undiscounted cash flows of the non-cancellable capital and operating leases as follows (in thousands): 
Years ending December 31,
 
Capital Leases
 
Operating Leases
2019
 
$
252

 
$
3,280

2020
 
61

 
712

2021
 

 
490

2022
 

 
41

2023
 

 

Total minimum lease payments (1)
 
313

 
$
4,523

Less: amount representing interest
 
(10
)
 
 
Present value of capital lease obligations
 
303

 
 
Less: current portion
 
(242
)
 
 
Long-term portion of capital leases
 
$
61

 


(1) Minimum payments have not been reduced by future minimum sublease rentals of $0.9 million to be received under non-cancellable subleases.
Schedule of future capital lease payments
As of December 31, 2018, under ASC 840, maturity analysis of annual undiscounted cash flows of the non-cancellable capital and operating leases as follows (in thousands): 
Years ending December 31,
 
Capital Leases
 
Operating Leases
2019
 
$
252

 
$
3,280

2020
 
61

 
712

2021
 

 
490

2022
 

 
41

2023
 

 

Total minimum lease payments (1)
 
313

 
$
4,523

Less: amount representing interest
 
(10
)
 
 
Present value of capital lease obligations
 
303

 
 
Less: current portion
 
(242
)
 
 
Long-term portion of capital leases
 
$
61

 


(1) Minimum payments have not been reduced by future minimum sublease rentals of $0.9 million to be received under non-cancellable subleases.
Schedule of supply and service commitments
The following table provides quantitative data regarding our other commitments. Future minimum payments reflect amounts that we expect to pay including potential obligations under services agreements subject to risk of cancellation by us (in thousands):
Other Commitment Agreement Type
Agreement Date
 
Future Minimum Payment
Development and manufacturing services agreements
September 2019
 
$
1,645

Manufacture and supply agreement with expected future payment date of December 2022
April 2016
 
1,242

Service agreement for clinical trial
December 2017
 
80

Total other commitments
 
 
$
2,967