v3.25.2
Property and equipment
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and equipment Property and equipment
Property and equipment as of June 30, 2025 and December 31, 2024 consisted of the following:
(in thousands)June 30, 2025December 31, 2024
Leasehold improvements
$1,498 $3,873 
Laboratory equipment3,009 4,415 
Office equipment781 970 
Hardware and computer software
1,148 1,137 
6,436 10,395 
Less: accumulated depreciation(6,435)(5,320)
Property and equipment, net$1 $5,075 

Depreciation expense was $362 and $704 for the three and six months ended June 30, 2025, respectively, and $326 and $657 for the three and six months ended June 30, 2024, respectively.
In connection with the 2025 Restructuring, the Company recorded impairment of property and equipment of $5.0 million during the three and six months ended June 30, 2025 related to leasehold improvements, lab equipment and furniture and fixtures located at the UK facility. See Note 15 for further information regarding the restructuring and associated impairment of long-lived assets. There were no impairments of property and equipment recorded during the three and six months ended June 30, 2024.