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Commitments and Contingencies | 3 Months Ended
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Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | 4. Commitments and Contingencies Operating Leases Corporate Headquarters Facility Lease In May 2022, we entered into a non-cancelable facility lease that is subject to base lease payments that started at $5.75 per square foot of rentable area per month for the first 12 months of the lease and which escalate 3.0% annually over the term of the lease, and additional charges for common area maintenance and other costs. The term of the lease (the Lease Term) commenced on March 20, 2023 (the Lease Commencement Date) and will continue for 124 months from the Lease Commencement Date. We also have one option to extend the Lease Term for five years. In April 2024, we entered into a lease amendment for additional common area amenities, effective as of June 2023. The amendment increased the total rentable square feet from 23,696 rentable square feet to 24,866 rentable square feet. We provided a $0.7 million security deposit in the form of a letter of credit which is included in restricted cash as of March 31, 2026. Future minimum payments under the facility lease and a reconciliation to the operating lease liability as of March 31, 2026 were as follows (in thousands):
|  | Operating Leases |
2026 |  | $ | 1,346 |
2027 |  |  | 1,916 |
2028 |  |  | 1,975 |
2029 |  |  | 2,035 |
2030 and thereafter |  |  | 7,802 |
Less: Amount representing interest |  |  | (4,121 | )
Present value of lease payments |  |  | 10,953 |
Less: Current portion of operating lease liability |  |  | (890 | )
Long-term operating lease liability, net of current portion |  | $ | 10,063 |
For each of the three months ended March 31, 2026 and 2025, we recorded an operating lease expense of $0.4 million. As of March 31, 2026, the weighted-average remaining lease term was 7.3 years and the weighted average discount rate was 8.8%. Financing Leases In April 2022, we entered into a master financing lease agreement to lease various research and development and information technology equipment over a 48-month term. Future minimum payments under the financing lease and reconciliation to the financing lease liability as of March 31, 2026 were as follows (in thousands):
|  | Financing Leases |
2026 |  | $ | 518 |
2027 |  |  | 264 |
Less: Amount representing interest |  |  | (35 | )
Present value of lease payments |  |  | 747 |
Less: Current portion of financing lease liability |  |  | (596 | )
Long-term financing lease liability, net of current portion |  | $ | 151 |
As of March 31, 2026, the weighted-average remaining lease term was 1.0 years and the weighted-average discount rate was 8.4%. As of March 31, 2026, we have a $1.1 million deposit held as collateral for the leased equipment, and this deposit is included in restricted cash. Litigation On October 9, 2025 and October 22, 2025, two substantially similar putative securities class action complaints were filed in the U.S. District Court for the Southern District of California, naming aTyr Pharma, Inc. and our Chief Executive Officer, Sanjay Shukla. The complaints assert that we and Mr. Shukla violated Section 10(b) of the Exchange Act of 1934, as amended (the Exchange Act), and SEC Rule 10b-5, by making materially false or misleading statements related to efzofitimod. The complaints also assert that Mr. Shukla violated Section 20(a) of the Exchange Act. Plaintiffs seek class certification, an award of unspecified damages, and award of reasonable costs and expenses, including attorneys’ fees and expert fees, and further relief as the court may deem just and proper. On February 9, 2026, the court consolidated the two cases and appointed co-lead plaintiffs to oversee the litigation. On May 1, 2026, co-lead plaintiffs filed an Amended Consolidated Complaint. The Amended Consolidated Complaint is based on the same underlying allegations as the original complaints, asserts the same claims and seeks the same relief, and adds our Chief Financial Officer, Jill M. Broadfoot, as a defendant. Under the current schedule, the deadline to respond to the Amended Consolidated Complaint, including by filing a motion to dismiss, is July 17, 2026. Any opposition to a motion to dismiss is due August 28, 2026, with any reply due September 28, 2026. We make provisions for liabilities when they are both probable that a liability has been incurred and the amount can be reasonably estimated. No such liability has been recorded related to this matter. With regard to legal fees, such as attorney fees related to this matter or any other legal matters, we recognize such costs as incurred.

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