The Company leases certain assets under operating leases, which primarily consist of real estate leases, and finance leases, which generally consist of laboratory equipment leases and office equipment leases. The Company’s real estate agreements expire at various times between 2028 through 2033 and its Birmingham and Durham leases include renewal options that range from three to five years in length.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease expense	$	781	$	526	$	1,487	$	1,070
Finance lease expense:
Amortization of right of use assets	$	366	$	554	$	743	$	1,092
Interest on lease liabilities	55		90		119		184
Total finance lease expense	$	421	$	644	$	862	$	1,276

Other supplemental information related to leases was as follows:


	June 30, 2026		December 31, 2025
Weighted average remaining lease term:
Operating leases	7.0 years		9.4 years
Finance leases	2.0 years		2.3 years
Weighted average discount rate:
Operating leases	10.10	%	10.70	%
Finance leases	9.95	%	9.77	%

Maturities of lease liabilities as of June 30, 2026 are as follows:


	Operating Leases		Finance Leases
2026 (remaining)	$	1,483	$	666
2027	3,102		991
2028	3,037		458
2029	1,538		25
2030	1,590		—
Thereafter	7,434		—
Total lease payments	18,184		2,140
Less imputed interest	(5,669)		(199)
Total	$	12,515	$	1,941

Supplemental cash flow information related to leases was as follows:


	Six Months Ended June 30,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	119	$	184
Operating cash flows for operating leases	$	1,183	$	903

Operating lease assets obtained in exchange for operating lease liabilities	$	4,198	$	280
Finance lease assets obtained in exchange for finance lease liabilities	$	—	$	844
Non-cash increase to operating lease assets due to remeasurement of operating lease liabilities	$	—	$	786
Non-cash decrease to finance lease assets due to remeasurement of finance lease liabilities	$	(175)	$	—