v3.25.4
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Summary of Lease Costs

The table below summarizes the Company’s operating lease costs from its statements of operations, and cash payments from its statements of cash flows (in thousands).

 

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

Lease expense:

 

 

 

 

 

 

Operating lease expense

 

$

62

 

 

$

145

 

Total lease expense

 

$

62

 

 

$

145

 

 

 

 

 

 

 

 

Cash payment information:

 

 

 

 

 

 

Operating cash used for operating leases

 

$

63

 

 

$

180

 

Total cash paid for amounts included in the measurement of lease liabilities

 

$

63

 

 

$

180

 

Summary of Future Minimum Annual Lease Payments under Operating Leases

The Company’s future minimum annual lease payments under the Houston Lease, including the temporary space, at December 31, 2025 are as follows (in thousands):

 

 

Houston Lease

 

2026

 

$

1,070

 

2027

 

 

708

 

2028

 

 

730

 

2029

 

 

752

 

2030

 

 

774

 

Thereafter

 

 

5,000

 

Total minimum lease payments

 

$

9,034

 

The Company’s future minimum annual lease payments under operating leases at December 31, 2025 are as follows (in thousands):

 

 

 

Operating Leases

 

2026

 

$

62

 

2027

 

 

15

 

Total minimum lease payments

 

$

77

 

Less: amount representing interest

 

$

(6

)

Present value of obligations under leases

 

 

71

 

Less: current portion

 

 

56

 

Noncurrent lease obligations

 

$

15