On February 4, 2019, the Company signed a lease agreement for its corporate headquarters at 117 Kendrick Street in Needham, Massachusetts. The facility consists of a 15,197 square foot property which houses the corporate, clinical, laboratory and manufacturing operations for the Company. The lease term ends on August 31, 2026.

For the three and six months ended June 30, 2025, the Company recorded $90,000 and $0.2 million of operating lease cost, respectively, and for the three and six months ended June 30, 2025, the Company recorded $39,000 and $80,000, respectively, of variable lease cost. The total lease expense for each of the three and six months ended June 30, 2025 was $0.1 million and $0.3 million, respectively.

For the three and six months ended June 30, 2024, the Company recorded $90,000 and $0.2 million of operating lease cost, respectively, and for the three and six months ended June 30, 2024, the Company recorded $44,000 and $83,000, respectively, of variable lease cost. The total lease expense for each of the three and six months ended June 30, 2024 was $0.1 million and $0.3 million, respectively.

Cash paid for amounts included in the lease liability for the three and six months ended June 30, 2025 was $0.2 million and $0.3 million, respectively. Cash paid for amounts included in the lease liability for the three and six months ended June 30, 2024 was $0.1 million and $0.3 million, respectively.


	SIX MONTHS ENDED JUNE 30,
Other Information	2025			2024
Operating cash flows used for operating leases (in thousands)	$	304		$	296
Weighted-average remaining lease term (years)		1.2			2.2
Weighted-average incremental borrowing rate		7.02	%		7.02	%

The future lease payments under non-cancelable leases at June 30, 2025, are as follows (in thousands):


2025	$	309
2026		415
Total future lease payments		724
Less: imputed interest		(26	)
Total lease liability	$	698