XML 26 R19.htm IDEA: XBRL DOCUMENT
v3.24.3

Leases | 9 Months Ended
--- | ---
Sep. 30, 2024
Leases [Abstract] |
Leases | 9. LEASES The following table summarizes the Company’s lease related costs for the three and nine months ended September 30, 2024 and 2023:
|  |  |  | Three Months Ended |  |  | Nine Months Ended |
(in thousands) |  |  |  | September 30, |  |  | September 30, |
Lease Cost |  | Statement of Operations Location |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating Lease Cost |  | General and administrative |  | $ | 132 |  |  | $ | 126 |  |  | $ | 386 |  |  | $ | 378 |
Total lease cost |  |  |  | $ | 132 |  |  | $ | 126 |  |  | $ | 386 |  |  | $ | 378 |
Average lease terms and discount rates for the Company’s operating leases were as follows:
|  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
Other Information |  | 2024 |  |  | 2023 |
Weighted-average remaining lease term |  |  |  |  |  |
Operating leases |  | 5.0 years |  |  | 1.1 years |
Weighted-average discount rate |  |  |  |  |  |
Operating leases |  |  | 15.45 | % |  |  | 5.69 | %
The following table summarizes the maturities of lease liabilities as of September 30, 2024:
|  | Operating |
Year |  | (in thousands) |
2024 |  |  | 135 |
2025 |  |  | 546 |
2026 |  |  | 556 |
2027 |  |  | 550 |
2028 |  |  | 563 |
Thereafter |  |  | 479 |
Total lease payments |  |  | 2,829 |
Less: interest |  |  | 858 |
Total lease liabilities |  | $ | 1,971 |
On September 11, 2024, the Company entered into a lease renewal agreement for its New York office space located at 545 Fifth Avenue, suite 1400, New York, New York 10017 (the "New York Lease") for a five-year term with total lease payments totaling $2.7 million. In conjunction with the execution of the New York lease renewal, the Company leased additional space located in suite 1401 for a five-year term with lease payments totaling $1.3 million. The lease of suite 1401 is anticipated to commence on November 10, 2024, or such earlier date as the Company begins occupancy of the leased space for its business operations.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration