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6.Leases

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The Company has various leases for office space, which are accounted for as operating leases and generally have terms of less than two years in length, some of which have the option to renew. The Company recognizes monthly operating lease expense on a straight-line basis over the term of the lease as general and administrative expenses in

the consolidated statements of operations and comprehensive loss. Variable lease expense relates primarily to office lease common area maintenance, insurance, and property taxes, is expensed as incurred, and is excluded from the

calculation of the lease liabilities and right-of-use assets. For the years ended December 31, 2025 and 2024, the Company incurred variable lease expense of $0.3 million and $0.1 million, respectively.

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Supplemental balance sheet information related to operating lease assets and liabilities was as follows (in thousands):

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For the years ended December 31, 2025 and 2024, the Company recorded $1.0 million and $0.9 million in operating lease expense (recorded in general and administrative expenses in the Company’s consolidated statements of operations and comprehensive loss), respectively.

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The minimum lease payments under the Company’s operating leases are expected to be as follows:

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During the years ended December 31, 2025 and 2024, the amount of right-of-use assets obtained under new operating lease arrangements was $1.5 million and $1.1 million, respectively. For years ended December 31, 2025 and 2024, the Company made $1.0 million and $0.9 million in lease payments, respectively.