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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | 5. LEASES The Company has entered into non-cancellable operating leases, including a sublease entered into in August 2024 for an office facility serving as its corporate headquarters in Brisbane, California. This sublease expires in 2029. The Company also leases a facility in South San Francisco, California, that is subleased to a third party under a non-cancellable agreement, which ends concurrently with the original lease in September 2025. Components of net lease cost are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 2,728 |  |  | $ | 2,577 |
Variable lease cost |  |  | 45 |  |  |  | 14 |
Total operating lease cost |  |  | 2,773 |  |  |  | 2,591 |
Less: Sublease income |  |  | (1,954 | ) |  |  | (1,928 | )
Net lease cost |  | $ | 819 |  |  | $ | 663 |
Other supplemental information related to operating leases is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Cash paid for operating lease liabilities |  | $ | 3,116 |  |  | $ | 3,000 |
Addition to right-of-use assets obtained from operating lease liabilities |  |  | 2,487 |  |  |  | — |
|  | December 31, |
|  | 2024 |  |  | 2023 |
Weighted-average discount rate for operating leases |  | 11.3% |  |  | 9.1% |
Weighted-average remaining lease term |  | 3.0 years |  |  | 1.5 years |
As of December 31, 2024, the maturities of operating lease liabilities are as follows (in thousands):
2025 |  | $ | 2,293 |
2026 |  |  | 830 |
2027 |  |  | 966 |
2028 |  |  | 995 |
2029 |  |  | 254 |
Total minimum lease payments |  |  | 5,338 |
Less: Imputed interest |  |  | (1,387 | )
Total operating lease liabilities |  |  | 3,951 |
Less: Current portion of operating lease liabilities |  |  | (1,483 | )
Non-current operating lease liabilities |  | $ | 2,468 |
As of December 31, 2024, under the terms of the sublease agreement of the South San Francisco facility to a third party, the Company is entitled to receive sublease payments of $1.5 million in 2025, and the Company remains responsible for future lease payments of $1.9 million under the terms of the lease for this facility. As of December 31, 2024, the Company had not executed any leases that were yet to commence.

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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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