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

Leases (Tables)

3 Months Ended

Mar. 31, 2020

The components of lease expense were as follows (in thousands):

	Three Months Ended March 31,
	2020
Operating leases
Operating lease expense	$	561
Variable lease expense		130
Total operating lease expense	$	691

Finance leases
Amortization of right-of-use asset	$	2
Interest on lease liabilities		-
Total finance lease expense	$	2

The following table summarizes the balance sheet classification of leases at March 31, 2020 (in thousands):

Operating leases
Operating lease right-of-use assets, non-current	$	9,617

Operating lease liabilities, current¹	$	1,731
Operating lease liabilities, non-current		11,232
Total operating lease liabilities	$	12,963

Finance leases
Property and equipment, at cost	$	77
Accumulated depreciation		43
Property and equipment, net	$	34

Finance lease liabilities, current¹	$	12

Included in other current liabilities.

The following table presents other information on leases as of March 31, 2020:

Weighted Average

Remaining Lease

Term

Weighted Average

Discount Rate

Operating leases

7.0

6.72

Finance leases

0.6

6.81

Maturities of lease liabilities were as follows as of March 31, 2020 (in thousands):

Supplemental cash flow information related to the Company’s leases were as follows for the three months ended March 31, 2020 (in thousands):


Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	515
Operating cash flows from finance leases	$	—
Financing cash flows from finance leases	$	7