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Leases | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Leases | 7. Leases The Company has noncancelable operating leases for offices and lab spaces expiring at various dates through 2032. On December 7, 2022, the Company signed a second lease amendment terminating the lease for the former corporate headquarters as of January 1, 2023. The Company continued to make payments through mid-February 2023. The Company accounted for the second amendment as a lease modification and reduced the lease liability and right-of-use asset by approximately $0.1 million to equal to the remaining lease payments. As of March 31, 2023, the lease liability and right-of-use asset for the former corporate headquarters was $0. In July 2019, the Company entered into a lease agreement with Kadans Science Partner XIII B.V. for the Accelerator headquarters, which commenced in April 2022. On April 5, 2024, in accordance with the terms of the lease agreement, the annual rent for the Accelerator lease increased due to increases in the consumer price index (CPI). The portion of the rent payments related to the CPI index are included within variable lease costs. There have been no changes in the Company’s lease arrangements for the three months ended September 30, 2024. The components of lease expense for the three and nine months ended September 30, 2024 and 2023 are as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |  |  | (in thousands) |
Lease cost |  |  |  |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 528 |  |  | $ | 517 |  |  | $ | 1,562 |  |  | $ | 1,743 |
Variable lease cost |  |  | 59 |  |  |  | 53 |  |  |  | 177 |  |  |  | 137 |
Total lease cost included in operating expenses |  | $ | 587 |  |  | $ | 570 |  |  | $ | 1,739 |  |  | $ | 1,880 |
Other information |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows |  | $ | 551 |  |  | $ | 544 |  |  | $ | 1,636 |  |  | $ | 1,828 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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