COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2026

For the three months ended March 31, 2026 and 2025, the Company had expenses related to its operating leases as follows:


(in thousands)	Statements of Operations	Three Months Ended March 31,
Lease Cost	Classification	2026		2025
Operating lease cost	General and administrative expense	$	108	$	94
Variable lease cost	General and administrative expense	48		48
Total operating lease cost		$	156	$	142

For the three months ended March 31, 2026 and 2025, supplemental information related to the Company’s operating lease arrangements are as follows:


(in thousands)	Three Months Ended March 31,
Operating lease – supplemental information	2026			2025
ROU assets obtained in exchange for operating lease	$	365		$	309
Weighted average remaining lease term – operating leases	1.1 years			1.3 years
Discount rate – operating leases	7.50		%	7.50		%