v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
The lease for the Company’s office and laboratory spaces in Vancouver, British Columbia, which we entered into in January 2019, has an initial term expiring in February 2032, with two five-year extension options. In addition, the Company leases office spaces in Bellevue, Washington and in Redwood City, California with lease terms expiring between August 2027 and July 2029. None of the optional extension periods have been included in the determination of the right-of-use assets or the lease liabilities for operating leases as the Company did not consider it reasonably certain that the Company would exercise any such options. The Company ceased its use of its office space in Redwood City, as of March 31, 2026 and fully amortized the right-of-use asset of this lease as of March 31, 2026.
The Company also leases office equipment under capital lease agreements.
The balance sheet classification of the Company’s lease liabilities was as follows:
June 30,
2026		December 31,
2025
Operating lease liabilities:
Current portion
$3,304 $3,471 
Long-term portion
12,703 14,796 
Total operating lease liabilities
$16,007 $18,267 
Weighted average remaining lease term:
Operating leases
4.9 years5.2 years
Weighted average discount rate:
Operating leases in U.S. dollars
5.9 %5.9 %
Operating leases in Canadian dollars
4.8 %4.8 %
Cash paid for amounts included in the measurement of operating lease liabilities for fixed payments for the three and six months ended June 30, 2026 was $1,084 and $2,173, respectively (2025: $1,075 and $2,123), and were included in net cash used in operating activities in the consolidated statement of cash flows.
As of June 30, 2026, the maturities of the Company’s operating lease liabilities were as follows:
Operating
leases
Within 1 year$4,114 
1 to 2 years3,647 
2 to 3 years3,468 
3 to 4 years2,659 
4 to 5 years2,609 
Thereafter1,522 
Total operating lease payments18,019 
Less:
Imputed interest(2,012)
Operating lease liabilities$16,007 
The cost components of the operating leases were as follows for the three and six months ended June 30, 2026 and 2025:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Lease expenses:
Operating lease expense$885 $797 $2,652 $1,573 
Variable lease expense
502 526 1,053 1,142 
$1,387 $1,323 $3,705 $2,715 
The expense for the six months ended June 30, 2026 includes $766 of accelerated amortization for the right-of-use asset of the Company's office space in Redwood City.
Leases Leases
The lease for the Company’s office and laboratory spaces in Vancouver, British Columbia, which we entered into in January 2019, has an initial term expiring in February 2032, with two five-year extension options. In addition, the Company leases office spaces in Bellevue, Washington and in Redwood City, California with lease terms expiring between August 2027 and July 2029. None of the optional extension periods have been included in the determination of the right-of-use assets or the lease liabilities for operating leases as the Company did not consider it reasonably certain that the Company would exercise any such options. The Company ceased its use of its office space in Redwood City, as of March 31, 2026 and fully amortized the right-of-use asset of this lease as of March 31, 2026.
The Company also leases office equipment under capital lease agreements.
The balance sheet classification of the Company’s lease liabilities was as follows:
June 30,
2026		December 31,
2025
Operating lease liabilities:
Current portion
$3,304 $3,471 
Long-term portion
12,703 14,796 
Total operating lease liabilities
$16,007 $18,267 
Weighted average remaining lease term:
Operating leases
4.9 years5.2 years
Weighted average discount rate:
Operating leases in U.S. dollars
5.9 %5.9 %
Operating leases in Canadian dollars
4.8 %4.8 %
Cash paid for amounts included in the measurement of operating lease liabilities for fixed payments for the three and six months ended June 30, 2026 was $1,084 and $2,173, respectively (2025: $1,075 and $2,123), and were included in net cash used in operating activities in the consolidated statement of cash flows.
As of June 30, 2026, the maturities of the Company’s operating lease liabilities were as follows:
Operating
leases
Within 1 year$4,114 
1 to 2 years3,647 
2 to 3 years3,468 
3 to 4 years2,659 
4 to 5 years2,609 
Thereafter1,522 
Total operating lease payments18,019 
Less:
Imputed interest(2,012)
Operating lease liabilities$16,007 
The cost components of the operating leases were as follows for the three and six months ended June 30, 2026 and 2025:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Lease expenses:
Operating lease expense$885 $797 $2,652 $1,573 
Variable lease expense
502 526 1,053 1,142 
$1,387 $1,323 $3,705 $2,715 
The expense for the six months ended June 30, 2026 includes $766 of accelerated amortization for the right-of-use asset of the Company's office space in Redwood City.