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Lease | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Lease | 9. Lease The Company leases certain of its facilities under non-cancellable operating leases expiring at various dates into 2027. On December 15, 2020, the Company entered into a lease agreement with Tennieh LLC to lease approximately 9,800 square feet of office and lab space in San Francisco, California (the “Laboratory Lease Agreement”). The Laboratory Lease Agreement was for a period of five years commencing approximately February 1, 2021 and ending January 31, 2026. In April 2025, the Company exercised its option to extend the lease term by an additional year, resulting in a revised expiration date of January 31, 2027. The modification was accounted under ASC 842, resulting in a remeasurement of the lease liability and a corresponding $0.8 million increase to the ROU asset. The incremental borrowing rate was also updated as part of the remeasurement. According to the terms of the Laboratory Lease Agreement, the Company paid a $0.4 million security deposit and is required to pay monthly rent and common area charges. No additional security deposit was paid in connection with the amendment. On August 17, 2023, the Company entered into a sublease agreement with Dropbox, Inc. to sublease approximately 6,713 square feet of office space in San Francisco, California (the “Dropbox Sublease Agreement”). The Dropbox Sublease Agreement was for a period of two years commencing on September 5, 2023 and ending December 31, 2025. In June 2025, the Company exercised its option to extend the lease term by an additional year, resulting in a revised expiration date of December 31, 2026. The modification was accounted under ASC 842, resulting in a remeasurement of the lease liability and a corresponding $0.1 million increase to the ROU asset. The incremental borrowing rate was also updated as part of the remeasurement. According to the terms of the Dropbox Sublease Agreement, the Company paid a $0.1 million security deposit and is required to pay monthly rent and common area charges. No additional security deposit was paid in connection with the amendment. On August 23, 2023, the Company entered into a lease agreement with The Cambridge Redevelopment Authority to lease approximately 4,020 square feet of office space in Cambridge, Massachusetts (the “Cambridge Lease Agreement”). The Cambridge Lease Agreement is for a period of three years commencing on September 15, 2023 and ending September 14, 2026. According to the terms of the Cambridge Lease Agreement, the Company paid a less than $0.1 million security deposit and is required to pay monthly rent and common area charges. The following table summarizes total lease expense during the three and nine months ended September 30, 2025 and 2024 (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Straight-line operating lease expense |  | $ |  | 300 |  |  | $ |  | 288 |  |  | $ |  | 875 |  |  | $ |  | 863 |
Variable lease expense |  |  |  | 100 |  |  |  |  | 117 |  |  |  |  | 284 |  |  |  |  | 286 |
Total operating lease expense |  | $ |  | 400 |  |  | $ |  | 405 |  |  | $ |  | 1,159 |  |  | $ |  | 1,149 |
The following table summarizes supplemental cash flow information during the three and nine months ended September 30, 2025 and 2024 (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Cash paid for amounts included measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ |  | 312 |  |  | $ |  | 303 |  |  | $ |  | 931 |  |  | $ |  | 856 |
Supplemental noncash information on lease liability arising from obtaining a right-use-asset |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 896 |  |  | $ |  | — |
The following table summarizes the Company’s future minimum lease payments and reconciliation of lease liabilities as of September 30, 2025 (in thousands):
Years Ending |  |  |  |
2025 (from October 2025) |  | $ |  | 314 |
2026 |  |  |  | 1,171 |
2027 |  |  |  | 69 |
Total future minimum lease payments |  |  |  | 1,554 |
Less: Interest |  |  |  | (76 | )
Total lease liabilities at present value |  |  |  | 1,478 |
Lease liabilities, current |  |  |  | 1,168 |
Lease liabilities, non-current |  | $ |  | 310 |
The following table summarizes the lease term and discount rate as of September 30:
|  | September 30, |
|  | 2025 |  |  | 2024 |
Weighted-average remaining lease term (years) |  |  | 1.26 |  |  |  | 1.51 |
Weighted-average discount rate |  |  | 9.00 | % |  |  | 9.00 | %

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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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