The Company has an operating lease agreement for its corporate office that commenced in March 2021 for approximately 10,700 square feet of space. The lease includes an option to extend the lease for up to 5 years and options to terminate the lease within 6 and 7.6 years. The Company has no obligations under finance leases.

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


	For the Three Months Ended March 31,
	2025		2024
Operating lease cost	$	108	$	108

Supplemental cash flow information related to lease was as follows (in thousands):


	For the Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	132	$	129
Right-of-use assets obtained in exchange for lease obligations:
Operating lease	$	22	$	22

Supplemental balance sheet information related to lease was as follows (in thousands):


	March 31, 2025		December 31, 2024
Operating lease right-of-use assets, net	$	2,158	$	2,230
Other current liabilities	$	410	$	402
Operating lease liabilities, net of current portion		2,681		2,786
Total operating lease liabilities	$	3,091	$	3,188

As of March 31, 2025 and December 31, 2024, the weighted average remaining lease term was 6.1 years and 6.3 years, respectively. The weighted average discount rate used to determine the operating lease liabilities was 4.51% as of March 31, 2025 and December 31, 2024.

Remaining payments of lease liabilities as of March 31, 2025 were as follows (in thousands):


2025 (remaining nine months)	$	405
2026		553
2027		570
2028		587
2029		605
Thereafter		835
Total lease payments		3,555
Less: imputed interest		(464	)
Total	$	3,091

Rent expense was approximately $0.1 million for each of the three-month periods ended March 31, 2025 and 2024.