v3.26.1
LEASES (Tables)
 6 Months Ended
Jun. 30, 2026
Leases  
SCHEDULE OF COMPONENTS OF LEASE ASSETS AND LIABILITIES

The components of lease assets and liabilities along with their classification on the Company’s condensed balance sheets were as follows:

 

Lease Assets and Liabilities  Classification  June 30,
2026		   December 31,
2025		 
      (in thousands) 
Operating lease assets  Right-of-use assets  $2,312   $1,583 
Current operating lease liabilities  Lease liabilities   326    427 
Non-current operating lease liabilities  Lease liabilities, net of current portion   2,094    1,258 
SCHEDULE OF LEASE COST
   2026   2025   2026   2025 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2026   2025   2026   2025 
   (in thousands) 
Lease Cost Classification                    
Research and development  $74   $25   $122   $52 
General and administrative expense   2    12    13    25 
SCHEDULE OF MATURITIES LEASE LIABILITIES

The following table presents maturities of operating lease liabilities on an undiscounted basis as of June 30, 2026:

 

Year  Amounts 
   (in thousands) 
For the remainder of 2026  $270 
2027   489 
2028   326 
2029   336 
2030   347 
Thereafter   1,883 
Total  $3,651 
Less: imputed interest   1,231 
Total operating lease liabilities (includes current portion)  $2,420 
SCHEDULE OF SUPPLEMENTAL CASH FLOW AND OTHER INFORMATION RELATED LEASES

The following table presents supplemental cash flow and other information:

 

   2026   2025 
   Six Months ended June 30, 
   2026   2025 
   (in thousands, except discount rate) 
Weighted-average remaining lease term (in years)   8.7    4.8 
Weighted-average discount rate (%)   9.7%   6.5%
Cash paid for amounts included in the measurement of lease liabilities:          
Operating cash flows for operating leases  $259   $219