v3.26.3
Leases (Tables)
9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Component of Lease Expense

The components of lease expense are as follows (in thousands):

 

 

Three months ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating lease expense

 

$

1,661

 

 

$

1,654

 

 

$

4,953

 

 

$

4,910

 

Variable lease expense

 

 

769

 

 

 

745

 

 

 

2,171

 

 

 

1,877

 

Total lease expense

 

$

2,430

 

 

$

2,399

 

 

$

7,124

 

 

$

6,787

 

Summarizes Lease Expense

The following table summarizes lease expense incurred (in thousands):

 

 

Three months ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Research and development

 

$

2,091

 

 

$

2,028

 

 

$

6,308

 

 

$

5,714

 

General and administrative

 

 

339

 

 

 

371

 

 

 

816

 

 

 

1,073

 

Total lease expense

 

$

2,430

 

 

$

2,399

 

 

$

7,124

 

 

$

6,787

 

 

Schedule of Lease Terms and Discount Rate

The weighted average remaining lease term and discount rate related to the Company's leases are as follows:

 

September 30,
2026

 

 

December 31,
2025

 

Weighted average remaining lease term (years)

 

 

6.0

 

 

 

6.8

 

Weighted average discount rate

 

 

9.8

%

 

 

9.9

%

Schedule Of Supplemental Cash Flow Information Related To Leases

Supplemental cash flow information and other information relating to the Company's leases are as follows (in thousands):

 

 

Three months ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

2,565

 

 

$

963

 

 

$

6,558

 

 

$

2,818

 

Amortization of ROU assets

 

$

715

 

 

$

637

 

 

$

2,066

 

 

$

1,827

 

Schedule of Future Minimum Payments Under Non -cancelable Operating Leases

Future minimum lease payments under non-cancelable leases as of September 30, 2026 for each of the years ending December 31 are as follows (in thousands):

Undiscounted lease payments

 

 

 

Remainder of 2026

 

$

1,410

 

2027

 

 

8,174

 

2028

 

 

7,879

 

2029

 

 

7,575

 

2030

 

 

7,802

 

Thereafter

 

 

15,624

 

Total undiscounted minimum lease payments

 

 

48,464

 

Less: Imputed interest

 

 

(12,198

)

Total operating lease liability

 

$

36,266