LEASES

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

LEASES

LEASES

We have an operating lease arrangement for our corporate offices and manufacturing and research operations that extends through 2035.

The components of lease cost were as follows (in thousands):

	Three Months Ended March 31,
	2026		2025
Operating lease cost	$	90	$	—
Short-term lease cost (1)	—		64
Variable lease cost (2)	13		—
Total lease cost	$	103	$	64

(1) Includes amounts related to leases with original terms of 12 months or less and our company has elected the short-term lease exemption.

(2) Includes amounts related to common area maintenance, property taxes and any other lease-related charges that vary based on usage or actual costs and are not included in the operating lease liability.

As of March 31, 2026, the maturities under the operating lease liability were as follows (in thousands):

2026	$	249
2027	338
2028	348
2029	359
2030	369
Thereafter	1,875
Total operating lease payments	3,538
Less: imputed interest	(1,100)
Total operating lease liability	$	2,438