The Company has entered into various operating lease agreements and a finance lease agreement, primarily relating to the Company’s office, laboratory, and manufacturing space.

The future minimum payments under non-cancellable operating and finance leases as of June 30, 2026, are as follows (in thousands):


	Operating Leases			Finance Lease
Remainder of 2026		440			173
2027		769			357
2028		804			365
2029		840			373
2030		1,052			382
Thereafter		—			4,474
Total future lease payments		3,905			6,124
Less: imputed interest		(888	)		(2,437	)
Total lease liabilities		3,017			3,687
Less: lease liability, current portion		633			243
Lease liability, net of current portion	$	2,384		$	3,444

The 2024 Workforce Reductions described in Note 1 (Organization and Basis of Presentation) comprised primarily of severance payments and wages for the 60-day notice period in accordance with the California Worker Adjustment and Retraining Notification (“WARN”) Act.

There were no restructuring charges incurred for the three and six months ended June 30, 2026 and 2025. The following is a summary of the accrued restructuring liability that was recorded in connection with the reductions in force for the six months ended June 30, 2026 and the year ended December 31, 2025 included within accrued expenses on the unaudited condensed consolidated financial statements (in thousands):


Accrued restructuring as of January 1, 2025	$	561
Restructuring charges incurred during the period		—
Cash payments		(302	)
Accrued restructuring as of December 31, 2025	$	259

Accrued restructuring as of January 1, 2026	$	259
Restructuring charges incurred during the period		—
Cash payments		(43	)
Accrued restructuring as of June 30, 2026	$	216

From time to time, the Company may be subject to potential liabilities under various claims and legal actions that are pending or may be asserted. These matters arise in the ordinary course and conduct of the business. The Company regularly assesses contingencies to determine the degree of probability and range of possible loss for potential accrual in the unaudited condensed consolidated financial statements. An estimated loss contingency is accrued in the unaudited condensed consolidated financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Based on the Company’s assessment, it currently does not have any material loss exposure as it is not a defendant in any material claims or legal actions.