7. Leases

As of June 30, 2025, the Company was a party to a lease related to commercial real estate under a non-cancelable lease term.

In July 2024, the Company entered into an operating lease agreement for office space located at 890 Winter Street in Waltham, Massachusetts. The lease commenced in September 2024 and the Company began paying monthly rent starting one month after the lease commenced. The Company occupies approximately 16,801 square feet of space under a three-year agreement expiring in October 2027. Initial base rent is approximately $0.7 million for the first year and approximately $0.8 million for the second and third year.