v3.25.4
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of operating leases assets and liabilities lessee

ROU assets and lease liabilities related to the Company’s operating leases are as follows (in thousands):

 

 

Balance Sheet Classification

December 31, 2025

 

 

December 31, 2024

 

Right-of-use assets

Operating lease right-of-use asset, net

$

1,846

 

 

$

1,334

 

Current lease liabilities

Current portion of lease liability

$

271

 

 

$

477

 

Non-current lease liabilities

Non-current portion of lease liability

$

1,801

 

 

$

732

 

Components of expenses related to leases is recorded on a straight-line basis over the lease term The following table summarizes lease costs by component for the year ended December 31, 2025 and 2024 (in thousands):

 

 

 

 

 

For the Year Ended December 31,

 

Lease Cost Components

 

Statement of Operations Classification

 

2025

 

 

2024

 

Operating lease cost

 

Operating expenses: General and administrative

 

$

347

 

 

$

387

 

Operating lease cost

 

Operating expenses: Research and development

 

 

517

 

 

 

125

 

Sublease income

 

Operating expenses: General and administrative

 

 

(56

)

 

 

 

Short-term lease cost

 

Operating expenses: General and administrative

 

 

147

 

 

 

137

 

Total lease cost

 

 

 

$

955

 

 

$

649

 

Schedule of future minimum commitments maturity operating leases

Future minimum commitments under all non-cancelable operating leases are as follows (in thousands):

 

Year Ended

 

Future Lease Commitments

 

2026

 

$

447

 

2027

 

 

495

 

2028

 

 

510

 

2029

 

 

526

 

2030

 

 

541

 

Thereafter

 

 

91

 

Total lease payments

 

$

2,610

 

Less: Imputed interest

 

 

(538

)

Present value of lease liabilities

 

$

2,072

 

Schedule of supplemental cash flow information related to operating leases

Supplemental cash flow information related to the Company’s operating leases for the year ended December 31, 2025 and 2024 are as follows (in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

574

 

 

$

436

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

1,709