Note 9 - Lease Liabilities

6 Months Ended

Jun. 30, 2026

Note 9—Lease Liabilities

We have an operating lease for our office and laboratory facilities with an initial term that ends in November 2027 and two options to extend the lease term, each by an additional five years. Restricted investments of $1.1 million represent the security deposit on our office and laboratory facilities. We have finance leases for certain laboratory and office equipment that have lease terms expiring through October 2029.

Supplemental lease information is as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2026			2025			2026			2025
	(In thousands)
Lease cost
Operating lease cost	$	1,488		$	1,680		$	2,975		$	3,206
Finance lease cost:
Amortization		142			234			328			367
Interest		25			51			63			89
Variable lease cost		921			950			1,906			1,891
Sublease income		(60	)		(411	)		(120	)		(725	)
Net lease cost	$	2,516		$	2,504		$	5,152		$	4,828

The supplemental cash flow information related to leases is as follows:

	Six Months Ended
	June 30,
	2026		2025
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Cash payments for operating leases	$	3,282	$	3,444
Cash payments for financing leases		381		466