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	%