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Lease

3 Months Ended

Mar. 31, 2026

8. Lease

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.

On August 18, 2025, the Company entered into a first amendment to the existing lease agreement dated February 4, 2019, extending the end-date of the term under the existing lease from August 31, 2026 to August 31, 2029.

For each of the three months ended March 31, 2026 and 2025, the Company recorded $0.1 million of operating lease cost and for the three months ended March 31, 2026 and 2025, the Company recorded $67,000 and $40,000, respectively, of variable lease cost. The total lease expense for the three months ended March 31, 2026 and 2025 was $0.2 million and $0.1 million, respectively.

Cash paid for amounts included in the lease liability for each of the three months ended March 31, 2026 and 2025 was $0.2 million.


	THREE MONTHS ENDED MARCH 31,
Other Information	2026			2025
Operating cash flows used for operating leases (in thousands)	$	156		$	152
Weighted-average remaining lease term (years)		3.4			1.4
Weighted-average incremental borrowing rate		7.50	%		7.02	%

The future lease payments under non-cancelable leases at March 31, 2026, are as follows (in thousands):


2026	$	462
2027		613
2028		628
2029		426
Total future lease payments		2,129
Less: imputed interest		(333	)
Total lease liability	$	1,796