NOTE 6 - LEASES

On January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) using the modified retrospective approach for all lease arrangements at the beginning of the period of adoption. The Company leases facilities, clinical research rooms, and vehicles under operating leases.

As of March 31, 2022, the Company’s ROU assets and lease liabilities for operating leases totaled $5,380 and $5,561, respectively. The impact of adopting the new lease standard was not material to the Company’s condensed consolidated statement of operations for the periods presented.

Supplemental cash flow information related to operating leases was as follows (unaudited):

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As of March 31, 2022, the Company’s operating leases had a weighted average remaining lease term of 3.66 years and a weighted average discount rate of 6.74%. Future lease payments under operating leases as of March 31, 2022 were as follows:

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