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Leases | 9 Months Ended
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Sep. 30, 2024
Leases |
Leases | 3. Leases The Company is party to one operating lease for office and laboratory space. The Company’s finance leases are immaterial both individually and in the aggregate. The Company has elected to apply the short-term lease exception to all leases of one year or less. Rent expense for each of the three months ended September 30, 2024 and 2023 was $19,998. Rent expense for each of the nine months ended September 30, 2024 and 2023 was $59,993, which is included in operating expenses. The Company has an annual operating lease for office and laboratory space in Doylestown, Pennsylvania which was amended in October 2024 and is currently set to expire on October 31, 2025. Rent expense under this lease is $110,000 annually and the Company has applied the short-term exception to this lease. The Company has no lease obligations beyond October 2025.

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