|3 Months Ended|
Mar. 31, 2023
We have a sublease agreement with Atara Biotherapeutics, Inc. (Atara) entered in October 2022 to sublease an office space located in South San Francisco, California. Subject to the terms of the sublease agreement, the lease term commenced in November 2022 and shall expire in May 2025. This leased facility is currently held as our new headquarters following the expiration of our previously leased facility in January 2023. At lease measurement date in the fourth quarter of 2022, we recognized the operating lease right-of-use asset and lease of approximately $1.3 million. As of March 31, 2023, we recorded $0.2 million of lease incentives from our sublease with Atara, which we recorded as a reduction to operating lease right-of-use asset and lease liability until the lease ends and the asset is transferred. The weighted average remaining term of our leases as of March 31, 2023 was years.
We had a lease agreement with Healthpeak Properties, Inc. (formerly known as HCP BTC, LLC), to occupy research and office space located in South San Francisco, California and a sublease agreement with an unrelated third-party to sublet a portion of the leased facility. Both leases expired in January 2023.
The components of our operating lease expense were as follows (in thousands):
Supplemental information related to our operating lease were as follow (in thousands):
Supplemental information related to our operating sublease was as follow (in thousands):
The following table presents the future lease payments as of March 31, 2023 (in thousands):