v3.25.2
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2025
Lessee, Lease, Description [Line Items]  
Summary of Future Minimum Rent Payments

The future minimum rent payments relating to the Carmel Lease under the terms and conditions existing as of June 30, 2025, are summarized as follows (in thousands):

 

(in thousands)

 

Amount

 

2025

 

$

89

 

2026

 

 

229

 

2027

 

 

234

 

2028

 

 

240

 

Total lease payments

 

 

792

 

Less: imputed interest

 

 

(142

)

Present value of lease liabilities

 

$

650

 

Summary of Operating Lease Term and Discount Rate

The following table summarizes the operating lease term and discount rate for the Carmel Lease as of June 30, 2025 and December 31, 2024:

 

 

June 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Weighted-average remaining lease term (years)

 

 

3.5

 

 

 

1.0

 

Weighted-average discount rate

 

 

11.0

%

 

 

8.0

%

Summary of Right of Use Assets and Lease Liabilities

The following table sets forth the amount of right-of-use assets and lease liabilities included on the Company’s balance sheet as of June 30, 2025 and December 31, 2024 (in thousands):

 

 

June 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Right-of use assets

 

$

551

 

 

$

119

 

Operating lease liability, current

 

 

138

 

 

 

171

 

Operating lease liability, net of current

 

 

512