Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

10. Leases

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 were $1.6 million and $1.2 million during the six months ended June 30, 2024 and 2023, respectively, which is included in operating cash flows within the accompanying unaudited condensed consolidated statements of cash flows.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Lease cost
Operating lease cost	$	663	$	663	$	1,327	$	1,319
Variable lease cost		412		230		957		288
Short-term lease cost		—		—		—		488
Total operating lease cost	$	1,075	$	893	$	2,284	$	2,095

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 $0.7 million and $1.5 million for the three and six months ended June 30, 2024, respectively, and $0.6 million for the three and six months ended June 30, 2023.