Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental balance sheet information related to leases was as follows (in thousands):


	September 30, 2024		December 31, 2023
Operating leases:
Operating lease right-of-use assets	$	3,190	$	3,665
Other current lease liabilities		1,092		1,002
Operating lease liabilities		3,588		4,417
Total operating lease liabilities	$	4,680	$	5,419

Finance leases:
Property and equipment, at cost	$	29	$	29
Accumulated depreciation		(21)		(13)
Property and equipment, net		8		16
Other current lease liabilities		10		10
Other long-term liabilities		—		7
Total finance lease liabilities	$	10	$	17

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


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Operating lease costs:
Operating lease expense	$	361	$	351	$	1,100	$	1,097
Other income		(342)		(357)		(1,062)		(1,054)
Total operating lease costs	$	19	$	(6)	$	38	$	43

Finance lease costs:
Amortization of right-of-use assets		2		2		7		7
Interest on lease liabilities		—		—		—		—
Total finance lease costs	$	2	$	2	$	7	$	7

Supplemental cash flow information related to leases was as follows (in thousands):


	Nine Months Ended
	September 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(276)	$	(288)
Financing cash flows from finance leases		(8)		(8)

Our lease liabilities will mature, as follows (in thousands):


	Operating Leases		Financing Leases
2024 (October 1 - December 31)		366		3
2025		1,474		7
2026		1,498		—
2027		1,523		—
2028		640		—
Total minimum lease payments	$	5,501	$	10
Less: imputed interest		(821)		—
Lease liability	$	4,680	$	10

Our lease liabilities will mature, as follows (in thousands):


	Operating Leases		Financing Leases
2024 (October 1 - December 31)		366		3
2025		1,474		7
2026		1,498		—
2027		1,523		—
2028		640		—
Total minimum lease payments	$	5,501	$	10
Less: imputed interest		(821)		—
Lease liability	$	4,680	$	10

Per the terms of our sublease, we expect the following inflows (in thousands):


	Sublease
2024 (October 1 - December 31)		291
2025		1,178
2026		1,198
2027		1,166
2028		254
Total minimum lease payments	$	4,087


	Nine Months Ended September 30,
	2024		2023
Weighted average remaining lease term (years)
Operating leases		4		5
Finance leases		1		2
Weighted average discount rate
Operating leases		9.2%		9.2%
Finance leases		6.5%		6.5%

TREVENA INC 10-Q