Rubius Therapeutics, Inc. - 10-Q filing on 2019-08-13

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of minimum lease payments under the Company’s operating leases

As of June 30, 2019, minimum lease payments under the Company’s operating leases are as follows (in thousands):


Year Ending December 31,
2019 (six months ending December 31)	$	5,370
2020		8,123
2021		7,245
2022		6,880
2023		7,085
2024		7,296
Thereafter		20,668
		62,667
Less: imputed interest		(8,708)
	$	53,959

As of December 31, 2018, minimum commitments under the Company’s operating leases, as required under prior lease guidance in ASC 840, were as follows (in thousands):


Year Ending December 31,
2019	$	5,458
2020		7,141
2021		7,168
2022		6,820
2023		7,024
Thereafter		27,777
	$	61,388

Schedule of future undiscounted cash inflows under the sublease

As of June 30, 2019, future undiscounted cash inflows under the sublease are as follows (in thousands):


Year Ending December 31,
2019 (six months ending December 31)	$	360
2020		735
2021		541
	$	1,636

Schedule of lease cost and lease liabilities for the Company’s lease portfolio

The components of lease cost and supplemental balance sheet information for the Company’s lease portfolio were as follows (in thousands, except term and discount rate amounts):


	Three Months Ended June 30,		Six Months Ended June 30,
	2019		2019
Lease Cost
Operating lease cost	$	1,593	$	2,633
Short-term lease cost		20		96
Variable lease cost		795		930
Sublease income		(299)		(369)
Total lease cost	$	2,109	$	3,290

Operating Leases
Operating lease, right-of-use-asset			$	27,643
Operating lease liabilities			$	5,076
Operating lease liabilities, net of current portion			$	23,137

Other information:
Weighted average remaining lease term - operating leases				6.85 years
Weighted-average discount rate - operating leases				7.92%