On February 4, 2019, the Company signed a lease agreement for its corporate headquarters at 117 Kendrick Street in Needham, Massachusetts. The facility consists of a 15,197 square foot property which houses the corporate, clinical, laboratory and manufacturing operations for the Company. The lease term ends on August 31, 2026.

For the three and nine months ended September 30, 2024, the Company recorded $90,000 and $0.3 million, respectively, of operating lease cost, and for the three and nine months ended September 30, 2024, the Company recorded $44,000 and $0.1 million, respectively, of variable lease cost. The total lease expense for each of the three and nine months ended September 30, 2024 was $0.1 million and $0.4 million, respectively.

For the three and nine months ended September 30, 2023, the Company recorded $90,000 and $0.3 million, respectively, of operating lease cost, and for the three and nine months ended September 30, 2023, the Company recorded $35,000 and $0.1 million, respectively, of variable lease cost. The total lease expense for the three and nine months ended September 30, 2023 was $0.1 million and $0.4 million, respectively.

Cash paid for amounts included in the lease liability for each of the three and nine months ended September 30, 2024 and 2023 was $0.1 million and $0.4 million, respectively.


	NINE MONTHS ENDED SEPTEMBER 30,
Other Information	2024			2023
Operating cash flows used for operating leases	$	446		$	434
Weighted-average remaining lease term (years)		1.9			2.9
Weighted-average incremental borrowing rate		7.02	%		7.02	%

The future lease payments under non-cancelable leases at September 30, 2024, are as follows (in thousands):


2024		152
2025		613
2026		415
Total future lease payments		1,180
Less: imputed interest		(73	)
Total lease liability	$	1,107