10.    Leases

The Company has commitments under operating leases for laboratory, warehouse, clinical trial sites and office space. The Company also has finance leases for manufacturing space and office equipment. The Company’s leases have initial lease terms ranging from 1.5 years to 191 years. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments.

Total rent expense under these leases was $1.2 million and $1.3 million for the three-month periods ended March 31, 2026 and 2025, respectively.

There were no new leases recognized during the three-month periods ended March 31, 2026 and 2025.

During the three months ended March 31, 2025, the Company determined that it was reasonably certain to exercise its early termination option on an operating lease for laboratory and office space, resulting in a remeasurement of the ROU asset and lease liability reflected in the accompanying condensed consolidated balance sheets.

The components of lease cost for the three-month periods ended March 31, 2026 and 2025 are as follows (in thousands):

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Amounts reported in the condensed consolidated balance sheets for leases where the Company is the lessee as of March 31, 2026 and December 31, 2025 were as follows (in thousands):

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Other information related to leases for the three-month periods ended March 31, 2026 and 2025 are as follows (in thousands):

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Future minimum lease payments under non-cancellable leases as of March 31, 2026 are as follows (in thousands):

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