Note 9: Leases

The Company leases office and lab facilities and other equipment under non-cancellable operating leases with initial terms typically ranging from 1 to 5 years, expiring at various dates during 2026 through 2027, and requiring monthly payments ranging from less than $1 thousand to $22 thousand. Certain leases include additional renewal options ranging from 1 to 5 years. AIM has classified all of its leases as operating leases.

At June 30, 2026 and December 31, 2025, the balance of the right of use assets was $260 thousand and $378 thousand, respectively, and the corresponding operating lease liability balance was $300 thousand and $420 thousand, respectively. Right of use assets are recorded net of accumulated amortization of $678 thousand and $560 thousand as of June 30, 2026 and December 31, 2025, respectively.

AIM recognized rent expense associated with these leases are follows:

 Schedule of AIM Recognized Rent Expense Associated with Operating Lease

The Company’s leases have remaining lease terms between 6 and 17 months. As of June 30, 2026, the weighted-average remaining term was 14 months. At December 31, 2025, the weighted-average remaining term was 20 months. The Company’s weighted average incremental borrowing rate for its leases was 10% at June 30, 2026 and December 31, 2025.

Future minimum payments as of June 30, 2026, are as follows:

 Schedule of Operating Lease Future Payments