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

Leases (Tables)

6 Months Ended

Jun. 30, 2023

The following table summarizes the components of lease expense for the three and six months ended June 30, 2023 and 2022 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating leases
Operating lease expense	$	727	$	601	$	1,454	$	1,201
Variable lease expense		142		91		245		211
Total operating lease expense	$	869	$	692	$	1,699	$	1,412

The following table summarizes the balance sheet classification of leases as of June 30, 2023 (in thousands):


	June 30,
	2023
Operating leases
Operating lease right-of-use assets	$	10,163

Operating lease liabilities, current¹	$	2,349
Operating lease liabilities, non-current		11,029
Total operating lease liabilities	$	13,378

1.	Included in other current liabilities.

The following table presents other information on leases as of June 30, 2023 and December 31, 2022:


	June 30,		December 31,
	2023		2022
Weighted average remaining lease term, operating leases	5.09	years	5.54	years
Weighted average discount rate, operating leases	8.22	%	8.21	%

Maturities of lease liabilities were as follows as of June 30, 2023 (in thousands):

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


	Six Months Ended June 30,
	2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$	1,349