Leases

6 Months Ended

Jun. 30, 2026

10. Leases

Total operating lease expense for the three months ended June 30, 2026 was $14,678, of which $9,297 was included within research and development and $5,381 was included within general and administrative expenses on the condensed consolidated statements of operations. Total operating lease expense for the three months ended June 30, 2025 was $12,783, of which $8,450 was included within research and development and $4,333 was included within general and administrative expenses on the condensed consolidated statements of operations.

Total operating lease expense for the six months ended June 30, 2026 was $27,020, of which $18,361 was included within research and development and $8,659 was included within general and administrative expenses on the condensed consolidated statements of operations. Total operating lease expense for the six months ended June 30, 2025 was $24,994, of which $16,596 was included within research and development and $8,398 was included within general and administrative expenses on the condensed consolidated statements of operations.

A summary of the Company’s right-of-use assets and liabilities is as follows:

	For the Six Months Ended
	June 30,
	2026			2025

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases	$	23,404		$	25,299

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	-		$	150,133

Weighted Average Remaining Lease Term
Operating leases		2 years			3 years

Weighted Average Discount Rate
Operating leases		7.0	%		5.0	%

Future minimum payments under the Company’s non-cancellable lease obligations as of June 30, 2026 were as follows:

Years	Amount
Remainder of 2026	$	27,020
2027		54,716
2028		27,695
Total lease payments		109,431
Less: amount representing imputed interest		(5,531	)
Present value of lease liability		103,900
Less: current portion		(49,980	)
Lease liability, non-current portion	$	53,920