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Operating Leases

3 Months Ended

Mar. 31, 2025

10. Operating Leases

The Company leases its office and facilities in Boston, Massachusetts under a non-cancellable operating lease agreement that continues through December 31, 2032. Cash paid for operating lease liabilities were $0.8 million and $1.1 million during the three months ended March 31, 2025 and 2024, respectively, which is included in operating cash flows within the accompanying unaudited condensed consolidated statements of cash flows.

The component of operating lease expense were as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Lease cost
Operating lease cost	$	672	$	663
Variable lease cost		55		539
Total operating lease cost	$	727	$	1,202

The Company subleases approximately 17,729 square feet of office and laboratory space in the building located at 321 Harrison Avenue, Boston, Massachusetts. The Company remains jointly and severally liable under the head lease and accounts for the sublease as an operating lease. The lease term commenced on March 24, 2023 and is expected to end in March 2026. The Company recognized sublease income of $0.5 million and $0.8 million for the three months ended March 31, 2025 and 2024, respectively.