Leases

3 Months Ended

Mar. 31, 2026

10. Leases

Total operating lease expense for the three months ended March 31, 2026 was $13,934, of which $9,064 was included within research and development and $5,294 was included within general and administrative expenses on the condensed consolidated statements of operations. Total operating lease expense for the three months ended March 31, 2025 was $12,219 of which $8,146 was included within research and development and $4,651 was included within general and administrative expenses on the condensed consolidated statements of operations.

A summary of the Company’s right-of-use assets and liabilities is as follows:

	For the Three Months Ended
	March 31,
	2026			2025

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases	$	11,630		$	12,570

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	-		$	-

Weighted Average Remaining Lease Term
Operating leases		2 years, 3 months			3 months

Weighted Average Discount Rate
Operating leases		7.0	%		5.0	%

Future minimum payments under the Company’s non-cancellable lease obligations as of March 31, 2026 were as follows:

Future Minimum Payments

Years	Amount
Remainder of 2026	$	40,192
2027		54,716
2028		27,696
Total lease payments		122,604
Less: amount representing imputed interest		(6,930	)
Present value of lease liability		115,674
Less: current portion		(49,025	)
Lease liability, non-current portion	$	66,649