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

Leases (Tables)

3 Months Ended

Mar. 31, 2022

The following table summarizes the components of lease expense for the three months ended March 31, 2022 and 2021 (in thousands):

	Three Months Ended March 31,
	2022		2021
Operating leases
Operating lease expense	$	601	$	726
Variable lease expense		119		125
Total operating lease expense	$	720	$	851

The following table summarizes the balance sheet classification of leases at March 31, 2022 (in thousands):

Operating leases
Operating lease right-of-use assets	$	8,206

Operating lease liabilities, current¹	$	2,533
Operating lease liabilities, non-current		9,009
Total operating lease liabilities	$	11,542

Included in other current liabilities.

The following table presents other information on leases as of March 31, 2022 and December 31, 2021:

	2022	2021
Weighted average remaining lease term, operating leases	5.24 years	5.65 years
Weighted average discount rate, operating leases	7.02%	7.02%

Maturities of lease liabilities were as follows as of March 31, 2022 (in thousands):

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

	Three Months Ended March 31,
	2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$	833