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

Leases (Tables)

9 Months Ended

Sep. 30, 2023

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Operating leases
Operating lease expense	$	727	$	684	$	2,181	$	1,885
Variable lease expense		153		156		399		367
Total operating lease expense	$	880	$	840	$	2,580	$	2,252

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


	September 30,
	2023
Operating leases
Operating lease right-of-use assets	$	9,667

Operating lease liabilities, current¹	$	2,416
Operating lease liabilities, non-current		10,396
Total operating lease liabilities	$	12,812

1.	Included in other current liabilities.

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


	September 30,		December 31,
	2023		2022
Weighted average remaining lease term, operating leases	4.87	years	5.54	years
Weighted average discount rate, operating leases	8.21	%	8.21	%

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

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


	Nine Months Ended September 30,
	2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$	2,178