Molecular Templates, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

9 Months Ended

Sep. 30, 2020

The components of lease expense were as follows (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2020		2020
Operating leases
Operating lease expense	$	671	$	1,794
Variable lease expense		124	$	369
Total operating lease expense	$	795	$	2,163

Finance leases
Amortization of right-of-use asset	$	2	$	6
Interest on lease liabilities		-		-
Total finance lease expense	$	2	$	6

The following table summarizes the balance sheet classification of leases at September 30, 2020(in thousands):

Operating leases
Operating lease right-of-use assets, non-current	$	11,589

Operating lease liabilities, current¹	$	2,038
Operating lease liabilities, non-current		12,828
Total operating lease liabilities	$	14,866

Finance leases
Property and equipment, at cost	$	77
Less, Accumulated depreciation		47
Property and equipment, net	$	30

Finance lease liabilities, current¹	$	3

Included in other current liabilities.

Maturities of lease liabilities were as follows as of September 30, 2020 (in thousands):

Supplemental cash flow information related to the Company’s leases were as follows for the nine months ended September 30, 2020 (in thousands):

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,771
Operating cash flows from finance leases	$	1
Financing cash flows from finance leases	$	16