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LEASES | 9 Months Ended
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Sep. 30, 2025
LEASES |
LEASES |
| 8. | LEASES
The Company has operating leases that primarily relate to operating facilities in both the United States and Germany. The Company leases its operating facilities under operating lease arrangements with varying expiration dates through March 2037. As of September 30, 2025, the remaining lease term of the Company’s operating leases ranges from six to twelve years. Supplemental statement of operations and cash flows related to the operating lease liability is as follows (excluding variable payments and expenses): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30,
​ |  | 2025 |  | 2024
​ | ​ | (amounts, in thousands)
Cash paid in connection with the operating leases | ​ | $ | 1,264 | ​ | $ | 1,235
​ Supplemental balance sheet information related to operating leases is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, | ​
​ |  | 2025 |  | 2024 | ​
​ | ​ | (amounts, in thousands) | ​
Right-of-use asset | ​ | $ | 11,075 | ​ | $ | 11,511 | ​
Lease liability - current portion | ​ | $ | 518 | ​ | $ | 453 | ​
Lease liability - net of current portion | ​ | ​ | 12,051 | ​ | ​ | 12,444 | ​
Total lease liability | ​ | $ | 12,569 | ​ | $ | 12,897 | ​
Weighted average discount rate | ​ |  | 9.8 | % | ​ | 9.8 | %
Weighted average remaining lease term | ​ | ​ | 11.4 years | ​ | ​ | 11.7 years | ​
​ Lease Expense The components of lease expense were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended September 30,
​ | ​ | 2025 |  | 2024
​ | ​ | (amounts, in thousands)
Operating lease cost | ​ | $ | 440 | ​ | $ | 409
Variable lease cost | ​ | ​ | 207 | ​ | ​ | 156
Total lease cost | ​ | $ | 647 | ​ | $ | 565
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended September 30,
​ | ​ | 2025 |  | 2024
​ | ​ | (amounts, in thousands)
Operating lease cost | ​ | $ | 1,288 | ​ | $ | 1,297
Variable lease cost | ​ | ​ | 356 | ​ | ​ | 360
Total lease cost | ​ | $ | 1,644 | ​ | $ | 1,657
​ As of September 30, 2025, the maturities of the operating lease liability are as follows:
​ | ​ | ​ | ​
Remainder of 2025 |  | $ | 431
2026 | ​ |  | 1,736
2027 | ​ |  | 1,777
2028 | ​ |  | 1,819
2029 | ​ |  | 1,863
Thereafter | ​ |  | 13,550
Future operating lease payments | ​ | ​ | 21,176
Imputed interest | ​ | ​ | (8,607)
Total operating lease liability | ​ | $ | 12,569
​

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- 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
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