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Leases

12 Months Ended

Dec. 31, 2025

Leases

Leases

7.           Leases

The Company leases office, laboratory space and vehicles under operating leases. In May 2023, the Company entered into a lease amendment to extend the term of the Lexington, Massachusetts headquarters lease by forty-eight months to August 31, 2028. The Company accounted for the lease amendment as a modification and recorded increases in the right-of-use-assets and lease liability of $8,515.

The components of lease cost for the year ended December 31, 2025, 2024 and 2023 are as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended
​	​	December 31,
​	​	2025		​ ​ ​	2024		​	2023
Operating lease cost	​	$	4,377	​	$	3,875	​	$	3,749
Variable lease cost	​	​	894	​	​	708	​	​	1,023
Short-term lease cost	​	​	15	​	​	153	​	​	-
Total lease cost	​	$	5,286	​	$	4,736	​	$	4,772

Variable lease costs primarily related to operating expense, taxes and insurance associated with the Company’s operating leases. As these costs are generally variable in nature, they are not included in the measurement of the operating lease asset and related lease liability.

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	December 31,
​	​	​	​	​	​	​	​	2025
Weighted-average remaining lease term (years)	​	​	​	​	​	​	​	​	2.66
Weighted-average discount rate	​	​	​	​	​	​	​	​	6.98%

​

Maturities of operating leases liabilities were as follows:

​

​	​	​	​	​	​	​	​	​	​
As of December 31,								​	​
2026	​	​	​	​	​	​	​	$	3,480
2027	​	​	​	​	​	​	​	​	4,164
2028	​	​	​	​	​	​	​	​	2,563
2029	​	​	​	​	​	​	​	​	193
2030	​	​	​	​	​	​	​	​	80
Thereafter	​	​	​	​	​	​	​		—
Total future minimum lease payments	​	​	​	​	​	​	​	$	10,480
Less imputed interest	​	​	​	​	​	​	​	​	(983)
Present value of lease liabilities	​	​	​	​	​	​	​	$	9,497

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- References

No definition available.

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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

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