In January 2024, the Medolla Lease Agreement for the office space was renegotiated. The new Medolla Lease Agreement includes an additional space and commenced on February 1, 2024, and will end on January 31, 2030, substituting the Medolla Lease Agreement commenced in June 2018.

The Company recognizes lease expense on a straight-line basis over the term of its operating lease. During the three months ended March 31, 2026, the Company recorded lease expense of $37 thousand. During the three months ended March 31, 2025, the Company recorded lease expense of $35 thousand.

Supplemental balance sheet information related to leases as follows (in thousands except lease terms and discount rates):


	March 31, 2026			December 31, 2025
Assets:
Operating lease right of use asset, net	$	415		$	453
Liabilities:
Short-term operating lease liability		113			115
Long-term operating lease liability		293			330
Total lease liabilities	$	406		$	445

Other information:
Weighted average remaining lease term	3.5 years			3.7 years
Weighted average discount rate		9.13	%		9.12	%

Future minimum lease payments under lease agreements as of March 31, 2026, were as follows (in thousands):


Fiscal Year
2026 (remainder of the year)	$	108
2027		139
2028		125
2029 and thereafter		99
Total lease payments		471
Less: imputed interest		(65	)
Total remaining lease liability	$	406