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

Leases (Tables)

6 Months Ended

Jun. 30, 2021

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

	Three Months Ended June 30,		Six Months Ended June 30,
	2021		2021
Operating leases
Operating lease expense	$	726	$	1,452
Variable lease expense		122		248
Total operating lease expense	$	848	$	1,700

The following table summarizes the balance sheet classification of leases at June 30, 2021 (in thousands):

Operating leases
Operating lease right-of-use assets	$	10,138

Operating lease liabilities, current¹	$	2,464
Operating lease liabilities, non-current		10,947
Total operating lease liabilities	$	13,411

Included in other current liabilities.

The following table presents other information on leases as of June 30, 2021 and December 31, 2020:

	2021			2020
Weighted average remaining lease term, operating leases	5.7 years			6.1 years
Weighted average remaining lease term, finance leases	0.0 years			0.1 years
Weighted average discount rate, operating leases		7.04	%		7.04	%
Weighted average discount rate, finance leases		0.00	%		0.00	%

Maturities of lease liabilities were as follows as of June 30, 2021 (in thousands):

Supplemental cash flow information related to the Company’s leases were as follows (in thousands):

	Six Months Ended June 30,
	2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$	1,543
Financing cash flows finance leases	$	1