Leases

3 Months Ended

Mar. 31, 2026

In January 2025, the Company entered into an operating lease agreement for office space in Malvern, Pennsylvania. The lease commencement date was February 1, 2025, and the lease term was 12 months, after which it continues on a month-to-month basis, with 90 days' notice required for cancellation.

Lease cost, as presented below, includes costs associated with leases for which right-of-use (ROU) assets have been recognized as well as short-term leases. The components of lease expense were as follows (amounts in thousands):


	Three months ended March 31,
	2026		2025
Operating lease costs
Operating lease rental expense	$	4	$	3
Total operating lease expense	$	4	$	3

Supplemental cash flow information related to leases was as follows (amounts in thousands):


	Three months ended March 31,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	4	$	3