v3.25.4
Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net . Property and Equipment, Net

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Laboratory equipment

 

$

23,852

 

 

$

24,468

 

Computer equipment

 

 

4,058

 

 

 

3,924

 

Furniture and office equipment

 

 

4,523

 

 

 

4,523

 

Leasehold improvements

 

 

30,954

 

 

 

30,954

 

Construction in progress

 

 

861

 

 

 

861

 

 

 

64,248

 

 

 

64,730

 

Less: Accumulated depreciation and amortization

 

 

(56,613

)

 

 

(53,196

)

 

$

7,635

 

 

$

11,534

 

 

Depreciation and amortization expense was $4,133, $5,468 and $6,243 for the years ended December 31, 2025, 2024 and 2023, respectively, which includes amounts related to both continuing and discontinued operations. During the years ended December 31, 2025 and 2024, the Company disposed of certain assets with a cost basis of $734 and $679, respectively, and a net book value of $18 and $0, respectively. In addition, during the year ended December 31, 2024, the Company recorded an impairment loss of $1,536 related to leasehold improvements at one of the Company's locations for which impairment indicators were determined to exist as of December 31, 2024. See Note 6, Leases, for further details.