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

Leases (Tables)

3 Months Ended

Mar. 31, 2023

The following table summarizes the components of lease expense for the three months ended March 31, 2023 and March 31, 2022 and (in thousands):

	Three Months Ended March 31,
	2023		2022
Operating leases
Operating lease expense	$	727	$	601
Variable lease expense		104		119
Total operating lease expense	$	831	$	720

The following table summarizes the balance sheet classification of leases at March 31, 2023 (in thousands):

	March 31,
	2023
Operating leases
Operating lease right-of-use assets	$	10,652

Operating lease liabilities, current¹	$	2,286
Operating lease liabilities, non-current		11,635
Total operating lease liabilities	$	13,921

Included in other current liabilities.

The following table presents other information on leases as of March 31, 2023 and December 31, 2022:

	March 31,	December 31,
	2023	2022
Weighted average remaining lease term, operating leases	5.31 years	5.54 years
Weighted average discount rate, operating leases	8.22%	8.21%

Maturities of lease liabilities were as follows as of March 31, 2023 (in thousands):

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

	Three Months Ended March 31,
	2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$	806