v3.25.2
Other Financial Statement information
6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Statement information Other Financial Statement information
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
June 30,December 31,
(in thousands)20252024
Prepaid expenses$1,674 $1,321 
Deposits96 335 
Other — 584 
Total prepaid expenses and other current assets$1,770 $2,240 
Property and Equipment, Net
Property and equipment, net consisted of the following:
June 30,December 31,
(in thousands)20252024
Leasehold improvements$22,660 $22,660 
Lab equipment7,565 7,550 
Furniture and fixtures331 331 
Computer equipment and software299 299 
Property and equipment at cost30,855 30,840 
Less: accumulated depreciation(11,262)(9,551)
Property and equipment, net$19,593 $21,289 
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
June 30,December 31,
(in thousands)20252024
Accruals related to:
Employee-related expenses$1,486 $2,542 
Clinical trials1,103 763 
Professional and other service fees986 2,647 
Other current liabilities53 433 
Total accrued expenses and other current liabilities$3,628 $6,385 
Other Non-current Liabilities
Other non-current liabilities consisted of the following:
June 30,December 31,
(in thousands)20252024
Liabilities associated with CIRM Grant$7,420 $4,900 
Other 149 149 
Total other non-current liabilities$7,569 $5,049 
CIRM Grant
On August 3, 2024, the Company executed an agreement with California Institute for Regenerative Medicine (“CIRM”) for a total grant award of $8.0 million (“CIRM Grant”) in support of the research project related to the ongoing clinical development of SENTI-202. The award is payable to the Company upon achievement of milestones
that are primarily based on patient enrollment in the Company’s SENTI-202 clinical trial. Under the terms of the CIRM Grant, the Company is obligated to co-fund up to $4.8 million, pay certain royalties and licensing fees or convert the CIRM Grant to a loan. As presented in the table above, the Company received an aggregate of $7.4 million from the CIRM Grant as of June 30, 2025.