Property and equipment, net consisted of the following:


	June 30,		December 31,
(in thousands)	2025		2024
Laboratory equipment	$	—	$	9,625
Manufacturing equipment		—		7,082
Computer equipment		—		446
Furniture, fixtures and other		—		606
Construction in progress		—		36
Total		—		17,795
Less: Accumulated depreciation		—		(11,214	)
Property and equipment, net	$	—	$	6,581

Depreciation expense for the three and six months ended June 30, 2025 and 2024 was $2.1 million and $2.9 million, respectively, and for the three and six months ended June 30, 2024 was and $0.9 million and $1.8 million, respectively.

In connection with the Restructuring Plan, during the three and six months ended June 30, 2025, the Company recognized a $3.3 million loss on disposal of certain long-lived assets including equipment and leasehold improvements which was recognized as research and development expense in the condensed consolidated statements of operations and comprehensive loss. Additionally, the Company abandoned certain long-lived assets, resulting in the acceleration of depreciation expense in the amount of approximately $1.5 million during the three and six months ended June 30, 2025, of which approximately $1.2 million and $0.3 million was recorded as research and development expense and general and administrative expense, respectively, in the condensed consolidated statements of operations and comprehensive loss.