7. Leases

During the year ended December 31, 2024, the Company entered into an operating lease for laboratory space. The remaining lease terms for the operating lease is approximately one year and does not provide a renewal option. The Company has elected the short-term lease policy election, which allows the Company to exclude from recognition leases with an original term of 12 months or less.

Upon commencement of the laboratory lease on March 7, 2024, the Company recorded a right-of-use asset of $0.4 million, short-term lease liability of $0.2 million, and long-term lease liability of $0.2 million.

Lease costs associated with the Company’s operating and short-term leases are recorded within general and administrative expense in the consolidated statement of operations and comprehensive loss. The following table sets forth information about our lease costs for the year ended December 31, 2025 and 2024 (in thousands):

 Schedule of Lease Cost

The following table sets forth information about our operating lease for the year ended December 31, 2025 and 2024 (in thousands):

 Schedule of Operating Lease Liabilities

The Company’s future minimum lease payments for our operating lease as of December 31, 2025 are as follows (in thousands):

 Schedule of Future Minimum Lease Payments For Operating Lease