5. Commitments and Contingencies Pfizer License Agreement In April 2011, the Company and Pfizer Inc. (Pfizer) entered into an exclusive license agreement for the clinical product candidate gemcabene, which was subsequently amended and restated in August 2018 (as so amended, the Pfizer Agreement). In exchange for this worldwide exclusive license to certain patent rights and a non-exclusive royalty bearing right and license to certain related data to make, use, develop, commercialize, import and otherwise exploit the clinical product candidate gemcabene, the Company agreed to certain milestone and royalty payments on future sales (See Note 6  License Agreement) . As of June 30, 2019, there was sufficient uncertainty with regard to both the outcome of the clinical trials and the ability to obtain sufficient funding to support any of the cash milestone payments under the Pfizer Agreement, and as such, no liabilities were recorded related to the Pfizer Agreement. Other Agreements In May 2016, the Company entered into a non-cancellable lease agreement for its headquarters location, commencing in the third quarter of 2016. The initial term of the agreement is 3 years with an initial monthly base rent of approximately $8,400 and increasing to approximately $8,900 during the last year of the lease term. The total rent expense under this operating classified lease was $26,000 during the three month periods ended June 30, 2019 and 2018, respectively, and $52,000 during the six month periods ended June 30, 2019 and 2018, respectively. Supplemental cash flow information related to the operating lease was as follows (in thousands): Six months ended Six months ended June 30, 2019 June 30, 2018 Cash paid for amounts included in the measurement of lease liability: Operating cash flows from operating leases $ 53 $ 52 Right-of -use assets obtained in exchange for lease obligations: Operating leases $ 70 $ - Supplemental balance sheet information related to the operating lease was as follows (in thousands, except weighted average data): As of As of June 30, 2019 December 31, 2018 Right-of-use assets $ 18 $ 68 Lease liability $ 18 $ 70 Weighted average remaining lease term 0.2 years 0.7 years Weighted average discount rate 5.5% 5.5% Maturity of the lease liability was as follows (in thousands): As of June 30, 2019 2019 (period from July 1, 2019 to December 31, 2019) $ 18 Total lease payments $ 18 Less imputed interest - Total $ 18 Other Commitments and Contingencies In the ordinary course of business, from time to time, the Company may be subject to a broad range of claims and legal proceedings that relate to contractual allegations, patent infringement, employment-related matters and other claims. The Company establishes accruals for matters which it believes that losses are probable and can be reasonably estimated. Although it is not possible to predict with certainty the outcome of these matters, the Company is of the opinion that the ultimate resolution of these matters will not have a material adverse effect on its results of operations or financial position.