v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
The Company has a lease agreement for its facility in Boston, Massachusetts, which is the Company’s principal executive office. There are no restrictions or financial covenants associated with this lease agreement. The Company had an operating lease for approximately 1,200 square meters of laboratory and office space in Vienna, Austria that commenced in February 2021 for a term of seven years. Effective November 30, 2025, the Company terminated the lease in accordance with a lease amendment entered into with the landlord. Accordingly, the Company accelerated the amortization of the right-of-use asset to zero and adjusted the remaining lease obligation to zero as of December 31, 2025.
The components of lease expense for the three months ended March 31, 2026 and 2025 were as follows:
(dollars in thousands)Three Months Ended March 31,
Lease Cost20262025
Fixed operating lease cost$400$487
Total lease expense$400$487
Other information
Operating cash outflows from operating leases$287348
Weighted-average remaining lease term—operating leases0.72.0
Weighted-average discount rate—operating leases11.5 %11.5 %


Maturities of lease liabilities due under lease agreements that have commenced as of March 31, 2026 are as follows (in thousands):
Maturity of lease liabilitiesOperating
Leases
2026 (remainder of the year)$765 
Total lease payments765 
Less: interest(32)
Total operating lease liabilities as of March 31, 2026$733