v3.26.3
Right-of-Use Assets and Liabilities
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Right-of-Use Assets and Liabilities Right-of-Use Assets and Liabilities
Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate, which reflects the fixed rate at which it could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. The Company's weighted average incremental borrowing rate at September 30, 2026 totaled 7.0%. Lease expense is recognized on a straight-line basis over the lease term.
The Company has an operating lease, as amended, for its corporate office and laboratories, which expires no later than December 2029. The lease has a weighted average remaining term of approximately 3.3 years.
The components of lease expense were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(dollars in millions)2026202520262025
Operating lease cost$0.6 $0.7 $1.8 $2.2 
Supplemental cash flow information related to the Company's lease was as follows:
Nine Months Ended
September 30,
(dollars in millions)20262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating lease$1.3 $1.6 
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new lease obligations$— $1.5 
Maturities of operating lease liabilities as of September 30, 2026, were as follows:
(dollars in millions)
Remainder of 2026$0.6 
20272.4 
20282.5 
20292.6 
Total lease payments8.1 
Less: imputed interest(0.9)
Total$7.2