Leases

6 Months Ended

Jun. 30, 2026

Note 7. Leases

In January 2024, the Medolla Lease Agreement for the office space was renegotiated. The new Medolla Lease Agreement includes an additional space and commenced on February 1, 2024, to end on January 31, 2030, substituting the Medolla Lease Agreement commenced in June 2018. In June 2026, the Medolla Lease was terminated, and the Company recognized an immaterial loss in connection with the termination.

The Company recognizes lease expense on a straight-line basis over the term of its operating lease. During the three and six months ended June 30, 2026, the Company recorded lease expense of $43 thousand and $80 thousand, respectively. During the three and six months ended June 30, 2025, the Company recorded lease expense of $38 thousand and $76 thousand, respectively.

Supplemental balance sheet information related to leases as follows (in thousands except lease terms and discount rates):


	December 31, 2025
Assets:
Operating lease right of use asset, net	$	453
Liabilities:
Short-term operating lease liability		115
Long-term operating lease liability		330
Total lease liabilities	$	445

Other information:
Weighted average remaining lease term	3.7 years
Weighted average discount rate		9.12	%

There are no future minimum lease payments under lease agreements as of June 30, 2026.