7.  Commitments and Contingencies

Operating Leases

In May 2021, the Company entered into a lease for its headquarters (the “Headquarters Lease”), consisting of an operating lease agreement, as amended, for new office, laboratory, manufacturing, and other space. The lease term expires on August 31, 2035. Under the Headquarters Lease, the Company has three five-year options to extend the term of the lease. However, the Company is not reasonably certain to exercise any of these options. During the three months ended March 31, 2026 and 2025, the Company paid $736 and $541, respectively, in rent on the Headquarters Lease.

Upon the acquisition of SeQure, the Company assumed SeQure’s headquarters lease (the “SeQure Lease”) consisting of an operating lease agreement, as amended, for office and laboratory space.  The lease term expires on December 31, 2027. Under the SeQure Lease, the Company has one five-year option to extend the term of the lease. However, the Company is not reasonably certain to exercise this option. During the three months ended March 31, 2026 and 2025, the Company paid $138 and $67, respectively, in rent on the SeQure Lease.  

The Company had no finance leases as of March 31, 2026 and December 31, 2025.

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The components of lease cost and supplemental condensed consolidated balance sheet information for the Company’s lease portfolio were as follows:

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The following table reconciles the remaining minimum lease payments to lease liabilities as of March 31, 2026:

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