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Operating Leases
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Operating Leases

10. Operating Leases

Leases classified as operating leases are included in operating lease right-of-use assets (“ROU”), operating lease liabilities, current portion and operating lease liabilities, net of current portion, in the Company’s accompanying condensed consolidated balance sheets.

The Company leases its office and facilities in Boston, Massachusetts under a non-cancellable operating lease agreement that continues through December 31, 2032. Cash paid for operating lease liabilities was $1.1 million and $0.2 million during the three months ended March 31, 2024 and 2023, respectively, which is included in operating cash flows. Operating lease expense for the three months ended March 31, 2024 and 2023 was $0.7 million for both periods. Variable lease expense was $0.5 million and $0 for the three months ended March 31, 2024 and 2023, respectively. Short term lease expense was $0 and $0.5 million for the three months ended March 31, 2024 and 2023, respectively.

The Company subleases approximately 17,729 square feet of office and laboratory space in the building located at 321 Harrison Avenue, Boston, Massachusetts. The Company remains jointly and severally liable under the head lease and accounts for the sublease as an operating lease. The lease term commenced on March 24, 2023 and is expected to end in March 2026. The Company recognized sublease income of $0.8 million and $38 thousand for the three months ended March 31, 2024 and 2023, respectively.