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

Leases (Tables)

9 Months Ended

Sep. 30, 2021

The following table summarizes the components of lease expense for the three and nine months ended September 30, 2021 (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2021		2021
Operating leases
Operating lease expense	$	726	$	2,177
Variable lease expense		117		364
Total operating lease expense	$	843	$	2,541

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

Operating leases
Operating lease right-of-use assets	$	9,002

Operating lease liabilities, current¹	$	2,541
Operating lease liabilities, non-current		10,284
Total operating lease liabilities	$	12,825

Included in other current liabilities.

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

	2021			2020
Weighted average remaining lease term, operating leases	5.5 years			6.1 years
Weighted average remaining lease term, finance leases		—		0.1 years
Weighted average discount rate, operating leases		7.03	%		7.04	%
Weighted average discount rate, finance leases		0.00	%		0.00	%

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

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

	Nine Months Ended September 30,
	2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$	2,371
Financing cash flows finance leases	$	1