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Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Lease and other information
The Company has entered into operating leases primarily for office and laboratory space. Lease cost amounts included in the measurement of lease obligations and other information related to non-cancellable operating leases were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Operating lease cost(1)
$1,243 $1,032 $3,728 $3,097 
(1) The Company had no variable lease costs.
Other information:Operating Leases
Weighted-average remaining lease term (in years)7.1 years
Weighted-average discount rate7.0 %
Nine Months Ended September 30,
Cash paid (in thousands):
20252024
Operating cash flows from operating leases$3,648 $3,542 
As of September 30, 2025, our maturity analysis of annual undiscounted cash flows of the non-cancellable operating leases are as follows (in thousands):
Years Ending December 31,Operating Leases
2025 (remaining 3 months)$1,220 
20265,014 
20274,053 
20285,400 
20295,365 
Thereafter15,695 
Total minimum lease payments36,747 
Less: imputed interest7,855 
Lease obligations$28,892 
Reconciliation of operating lease liabilities as shown within the unaudited condensed consolidated balance sheets (in thousands):
Current portion of lease obligations - Operating leases$3,091 
Long-term lease obligations - Operating leases25,801 
Total operating lease liabilities$28,892 
Legal Proceedings
We may be involved in legal actions in the ordinary course of business, including inquiries and proceedings concerning business practices and intellectual property infringement, employee relations and other claims. We will recognize a loss contingency in the consolidated financial statements when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. We will disclose any loss contingencies that do not meet both conditions if there is a reasonable possibility that a material loss may have been incurred. Gain contingencies are not recorded until they are realized.
We are currently not a party to any material pending litigation or other material legal proceedings that management believes could have a material adverse effect on our financial statements.
Indemnifications
We are required to recognize a liability for the fair value of any obligations we assume upon the issuance of a guarantee. We have certain agreements with licensors, licensees and collaborators that contain indemnification provisions. In such provisions, we typically agree to indemnify the licensor, licensee and collaborator against certain types of third-party claims. The maximum amount of the indemnifications is not limited. We accrue for known indemnification issues when a loss is probable and can be reasonably estimated. There were no accruals for expenses related to indemnification issues for any periods presented.