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

Leases (Tables)

9 Months Ended

Sep. 30, 2022

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

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022		2022
Operating leases
Operating lease expense	$	684	$	1,885
Variable lease expense		156		367
Total operating lease expense	$	840	$	2,252

The following table summarizes the balance sheet classification of leases at September 30, 2022 (in thousands):


Operating leases
Operating lease right-of-use assets	$	11,120

Operating lease liabilities, current¹	$	1,957
Operating lease liabilities, non-current		12,422
Total operating lease liabilities	$	14,379

Included in other current liabilities.

The following table presents other information on leases as of September 30, 2022 and December 31, 2021:

	2022	2021
Weighted average remaining lease term, operating leases	5.80 years	5.65 years
Weighted average discount rate, operating leases	8.09%	7.02%

Maturities of lease liabilities were as follows as of September 30, 2022 (in thousands):

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

	Nine Months Ended September 30,
	2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows operating leases	$	2,518