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Leases
3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases

13. Leases

The Company amended the Lease in January 2026 via the Second Lease Amendment, which extended the lease term through December 2029 and reduced the base rent commencing on January 28, 2026, with an option to extend the lease term for a period of up to four years. As a result of the Second Lease Amendment, the Company recorded a $1.3 million increase in its right-of-use asset and operating lease liabilities during the three months ended March 31, 2026. Future minimum lease payments, the weighted-average remaining lease term and discount rate for the Lease as of March 31, 2026 are as follows (in thousands):

 

 2026 (remaining nine months)

 

$

581

 

 2027

 

 

898

 

 2028

 

 

925

 

 2029

 

 

952

 

Total future minimum lease payments

 

 

3,356

 

Less: Present value adjustment

 

 

(622

)

Operating lease liabilities

 

$

2,734

 

Weighted-average remaining lease term (years)

 

 

3.8

 

Weighted-average discount rate

 

 

10.7

%

 

Rent expense for each of the three months ended March 31, 2026 and 2025 was $0.2 million.