Leases |
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Dec. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Leases |
4. Leases
The Company has one operating lease for a commercial manufacturing facility and administrative offices located in Langhorne, Pennsylvania that runs through January 2031. There are two options that can extend the lease term for five years each. The exercise of the lease options to renew is solely at the Company’s discretion.
The following table presents information about the amount and timing of the liability arising from the Company’s operating lease as of December 31, 2022 ($ in thousands):
Total operating lease expense for the year ended December 31, 2022 and 2021 was $246 and $233 thousand respectively, and is recorded in cost of revenues and selling, general and administrative expenses within the statements of operations.
Supplemental cash flows information related to leases was as follows ($ in thousands):
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