Balance Sheet Components

6 Months Ended

Jun. 30, 2025

Note 4. Balance Sheet Components

Property and Equipment

Property and equipment consisted of the following (in thousands):


	June 30,			December 31,
	2025			2024
Lab equipment	$	985		$	669
Computer equipment and software		71			64
Furniture and fixtures		167			53
Leasehold improvements		161			—
Construction-in-progress		52			176
Property and equipment, gross	$	1,436		$	962
Accumulated depreciation		(462	)		(371	)
Property and equipment, net	$	974		$	591

Depreciation expense was less than $0.1 million for each of the three and six months ended June 30, 2025 and 2024.

Accrued Expenses and Other Current Liabilities

Accrued expenses consisted of the following (in thousands):


	June 30,		December 31,
	2025		2024
Research and development expenses	$	4,328	$	7,449
Payroll and related costs		2,345		3,885
Other		911		417
Total accrued expenses and other current liabilities	$	7,584	$	11,751