The Company leases space under operating leases for administrative offices in New York, New York, and Waltham, Massachusetts. The Company previously leased wet laboratory space in Watertown, Massachusetts, but this lease terminated in March 2025.

The following table provides a summary of the components of lease costs and rent:


	Three Months Ended March 31,
	2026		2025
Operating lease cost	$	99	$	123
Variable lease cost		9		12
Total operating lease costs	$	108	$	135

Cash paid for amounts included in the measurement of operating lease liabilities was $0.1 million for each of the three months ended March 31, 2026 and 2025.

The Company recorded operating lease costs of $0.1 million during each of the three months ended March 31, 2026 and 2025 within the general and administrative expenses line item in the unaudited condensed consolidated statements of operations and comprehensive loss. The Company recorded operating lease costs of nil and $24 thousand during the three months ended March 31, 2026 and 2025, respectively, within the research and development expenses line item in the unaudited condensed consolidated statements of operations and comprehensive loss.

Maturities of operating lease liabilities as of March 31, 2026, are as follows:


2026 (remaining 9 months)	$	314
2027		323
2028		318
2029		321
2030		324
Thereafter		54
Total undiscounted operating lease payments		1,654
Less: imputed interest		(290	)
Present value of operating lease liabilities	$	1,364

Balance sheet classification:
Current portion of operating lease liabilities	$	399
Long-term operating lease liabilities		965
Total operating lease liabilities	$	1,364

The weighted-average remaining term of operating leases was 56 months and the weighted-average discount rate used to measure the present value of operating lease liabilities was 8.4% as of March 31, 2026.