v3.26.1
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Operating Leased Assets [Line Items]  
Summary of Supplemental Information Related to Leases

Supplemental information related to leases are as follows:

 

 

 

Year Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(in thousands)

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

5,729

 

 

$

5,572

 

Weighted-average remaining lease term (in years)

 

 

 

 

 

 

Operating lease

 

0.75

 

 

 

1.75

 

Weighted-average discount rate

 

 

 

 

 

 

Operating lease

 

 

8.25

%

 

 

8.25

%

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(in thousands)

 

Operating lease cost

 

$

5,067

 

 

$

5,067

 

Variable lease cost

 

 

2,095

 

 

 

2,151

 

Sublease income

 

 

1,193

 

 

 

1,185

 

Schedule of Maturity of Operating Lease Liabilities

 

 

 

 

December 31, 2025

 

 

 

 

 

(in thousands)

 

Maturity of operating lease liabilities

 

 

 

 

 

2026

 

 

 

$

4,387

 

Total lease payments

 

 

 

 

4,387

 

Less imputed interest

 

 

 

 

(147

)

Present value of lease liabilities

 

 

 

$

4,240

 

2026 Lease  
Operating Leased Assets [Line Items]  
Schedule of Maturity of Operating Lease Liabilities The Company determined that the lease commencement date for accounting purpose is April 1, 2026, when the office and laboratory space is expected to be available for use by the Company to begin construction of its leasehold improvements.

 

2026 Lease

 

 

 

December 31, 2025

 

 

 

 

 

(in thousands)

 

Maturity of operating lease liabilities

 

 

 

 

 

2027

 

 

 

$

1,815

 

2028

 

 

 

 

1,900

 

2029

 

 

 

 

1,986

 

Total undiscounted lease payments

 

 

 

$

5,701