| LEASES The following table provides additional details of our facility leases presented in our condensed balance sheets: | | | | | | | | | | | | ($ in thousands) | | | | | Facilities | June 30, 2026 | | December 31, 2025 | | Right-of-use assets | $ | 4,065 | | $ | 4,795 | | | | | | Current portion of lease liabilities | $ | 1,545 | | $ | 1,479 | | Operating lease liability, net of current portion | 2,822 | | 3,641 | | Total lease liabilities | $ | 4,367 | | $ | 5,120 | | | | | | Weighted-average remaining term (in years) | 2.7 | | 3.1 | | Weighted-average discount rate | 5.6 | % | | 5.6 | % |
The following table presents the lease costs, which are included in our condensed statements of operations and comprehensive loss, and the supplemental cash flow information related to the leases: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (in thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Operating lease expense | $ | 432 | | | $ | 393 | | | $ | 864 | | | $ | 1,370 | | | Cash paid for operating leases | $ | 446 | | | $ | 340 | | | $ | 888 | | | $ | 1,387 | |
The following table summarizes our undiscounted cash payment obligations for our operating lease liabilities as of June 30, 2026: | | | | | | (in thousands) | Operating Leases | | Remainder of 2026 | $ | 897 | | | 2027 | 1,836 | | | 2028 | 1,402 | | | 2029 | 575 | | | Thereafter | — | | | Total undiscounted operating lease payments | 4,710 | | | Imputed interest expenses | (343) | | | Total operating lease liabilities | 4,367 | | | Less: Current portion of operating lease liability | (1,545) | | | Operating lease liability, net of current portion | $ | 2,822 | |
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