In May 2017, BiomX Israel entered into a lease agreement for office space in Ness Ziona, Israel. The agreement is for five years beginning on June 1, 2017 with an option to extend for an additional five years. Monthly lease payments under the agreement are approximately $17 thousand. As a part of the agreement, the Company provided a bank guarantee to the property owner in the amount of approximately $95 thousand representing four monthly lease payments. Lease expenses recorded in the consolidated statements of comprehensive loss were $201 thousand and $198 thousand for the years ended December 31, 2019, and 2018, respectively.

In September 2019, BiomX Israel entered into an additional lease agreement for office space in Ness Ziona, Israel. The agreement is for five years beginning on September 8, 2019 with an option to extend for an additional three years. The option was not accounted for as part of the lease, given its low probability of being exercised. Monthly lease payments under the agreement are approximately $10 thousand. As a part of the agreement, the Company provided a bank guarantee to in the amount of approximately $59 thousand representing four monthly lease payments. Lease expenses recorded in the consolidated statements of comprehensive loss were $18 thousand for the year ended December 31, 2019.

Supplemental cash flow information related to operating leases was as follows (USD in thousands):

As of December 31, 2019, the Company's operating leases had a weighted average remaining lease term of 4 years and a weighted average discount rate of 3%. The maturity analysis of operating leases as of December 31, 2019 were as follows (USD in thousands):