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Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Qualitative Information Regarding Leases

Qualitative information regarding the Company’s leases as of June 30, 2025 is as follows:

Location

 

Lease Type

 

Lease Nature

 

Lease Commencement

 

Lease Term Expiration

 

Annual Base Rent
 (in Millions)

 

Copenhagen, Denmark

 

 Operating

 

 Office

 

March 2021

 

December 2027

 

$

0.2

 

Copenhagen, Denmark

 

 Operating

 

 Office

 

December 2024

 

December 2027

 

$

0.04

 

Copenhagen, Denmark

 

 Operating

 

 Lab

 

January 2023

 

December 2027

 

$

0.04

 

Newport, United Kingdom

 

 Operating

 

 Office

 

June 2023

 

May 2025

 

$

0.04

 

New York, New York

 

 Operating

 

 Office

 

October 2021

 

January 2027

 

$

0.2

 

Rockville, Maryland

 

 Operating

 

 Lab

 

December 2021

 

May 2027

 

$

0.3

 

Schedule of Quantitative Information Regarding Leases

Quantitative information regarding the Company’s leases for the six months ended June 30, 2025 and 2024 is as follows (in thousands):

 

 

Six Months Ended

 

 

Six Months Ended

 

Lease Cost

 

June 30, 2025

 

 

June 30, 2024

 

Operating lease cost

 

$

359

 

 

$

369

 

Operating cash flows paid for amounts included in the measurement of lease liabilities

 

$

413

 

 

$

385

 

Operating lease liabilities arising from obtaining right-of-use assets

 

$

 

 

$

 

Remaining average lease term (years)

 

 

2.1

 

 

 

3.0

 

Weighted average discount rate

 

 

6.4

%

 

 

6.3

%

Schedule of Future Lease Payments (Undiscounted) under Noncancelable Leases

Future lease payments (undiscounted) under noncancelable leases are as follows as of June 30, 2025 (in thousands):

Future Lease Payments

 

Amount

 

Remainder of 2025

 

$

419

 

2026

 

 

863

 

2027

 

 

470

 

2028

 

 

 

2029

 

 

 

Thereafter

 

 

 

Total

 

$

1,752