Note 9 - Leases

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Lease Disclosure [Text Block]

Note 9—Leases

We have an operating lease for our office and laboratory facilities with an initial term that ends in November 2027 and two options to extend the lease term by an additional five years each. Restricted investments of $1.1 million represent the security deposit on our office and laboratory facilities. We have finance leases for certain laboratory and office equipment that have lease terms expiring through November 2026.

Supplemental lease information is as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
	(In thousands)
Lease cost
Operating lease cost	$	1,610		$	1,603		$	4,822		$	4,852
Finance lease cost:
Amortization		173			140			468			529
Interest		26			29			122			121
Variable lease cost		824			807			2,622			2,354
Sublease income		(364	)		(375	)		(1,138	)		(1,125	)
Net lease cost	$	2,269		$	2,204		$	6,896		$	6,731

Cash paid for amounts included in the measurement of lease liabilities is as follows:

	Nine Months Ended
	September 30,
	2024		2023
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Cash payments for operating leases	$	5,272	$	5,356
Cash payments for financing leases		534		499