Leases

3 Months Ended

Mar. 31, 2026

Leases

Leases

7.Leases

The Company has one operating lease pertaining to 5,969 square feet of corporate office space in Sugar Land, Texas pursuant to a lease agreement that commenced April 1, 2022. As of March 31, 2026, the remaining term of lease was 1.33 years. The lease requires monthly lease payments that are subject to annual increases throughout the lease term.

The components of lease costs, which are included within general and administrative expenses in the Company’s condensed consolidated statements of operations and comprehensive loss were as follows (in thousands):

	For the Three Months Ended March 31,
	2026		2025
Lease costs:
Operating lease cost	$	24	$	24
Variable lease cost		22		22
Total lease costs	$	46	$	46

Supplemental disclosure of cash flow information related to the lease were as follows (in thousands):

	For the Three Months Ended March 31,
	2026		2025
Operating cash flows from operating leases	$	51	$	50

The weighted-average discount rate and remaining lease term were as follows:

	For the Three Months Ended March 31,
	2026		2025
Weighted-average discount rate	9.50	%	9.50	%
Weighted-average remaining lease term	1.33		2.33

As of March 31, 2026, the maturities of the Company’s operating lease liabilities were as follows (in thousands):

Year Ended December 31,	Amount
2026 (remaining nine months)	$	97
2027		88
Total lease payments		185
Less: imputed interest		(11)
Present value of lease liabilities		174
Less: operating lease liabilities, current portion	$	120
Operating lease liabilities, net of current portion	$	54