v3.26.1
Right-of-Use Assets and Liabilities
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Right-of-Use Assets and Liabilities Right-of-Use Assets and Liabilities
Operating lease liabilities and their corresponding right-of-use ("ROU") assets are recorded based on the present value of lease payments over the expected remaining lease term. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate, which reflects the fixed rate at which it could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. The Company's weighted average incremental borrowing rate at March 31, 2026 totaled 7.0%. Lease expense is recognized on a straight-line basis over the lease term.
The Company has an operating lease, as amended, for its corporate office and laboratories, which expires no later than December 2029. The lease has a weighted average remaining term of approximately 3.8 years.
The components of lease expense were as follows:
 Three Months Ended
March 31,
(dollars in millions)20262025
Operating lease cost$0.6 $0.7 
Supplemental cash flow information related to leases was as follows:
Three Months Ended
March 31,
(dollars in millions)20262025
Cash paid for amounts included in the measurement of lease liabilities:  
Operating cash flows from operating leases$0.4 $0.5 
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new lease obligations$— $1.5 
Maturities of operating lease liabilities as of March 31, 2026, were as follows:
(dollars in millions)
Remainder of 2026$1.7 
20272.4 
20282.5 
20292.6 
2030— 
Total lease payments9.2 
Less: imputed interest(1.1)
Total$8.1