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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Summary of Components of Lease Expense

The components of lease expense included in the consolidated statements of operations and comprehensive loss are as follows (in thousands):

 

 

For the Year Ended December 31,

 

 

 

2024

 

 

2023

 

Operating lease costs

 

$

733

 

 

$

733

 

Summary of Operating Lease Supplemental Balance Sheet Information

Supplemental balance sheet information related to the Company's operating lease was as follows (in thousands):

 

 

As of December 31,

 

 

 

2024

 

 

2023

 

Operating lease right-of-use assets

 

$

3,964

 

 

$

4,260

 

 

 

 

 

 

 

Current portion, operating lease liabilities

 

 

656

 

 

 

637

 

Operating lease liabilities, long term

 

 

3,588

 

 

 

3,838

 

Total operating lease liabilities

 

$

4,244

 

 

$

4,475

 

 

 

 

 

 

 

Weighted average remaining lease term (years)

 

 

8.3

 

 

 

9.3

 

Weighted average incremental borrowing rate

 

 

10.1

%

 

 

10.1

%

Summary of Future Minimum Lease Payments for Operating Leases

Future minimum lease payments for operating leases with initial remaining terms in excess of one year as of December 31, 2024 are as follows:

 

2025

 

$

687

 

2026

 

 

708

 

2027

 

 

729

 

2028

 

 

751

 

2029

 

 

773

 

Thereafter

 

 

2,678

 

Total lease payments

 

 

6,326

 

Less implied interest

 

 

(2,082

)

Total operating lease liabilities

 

$

4,244