v3.26.1
Balance Sheet Components
12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components

5. Balance Sheet Components

Property and Equipment, Net

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

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Laboratory equipment

 

$

3,064

 

 

$

4,130

 

Furniture and fixtures

 

 

1,132

 

 

 

936

 

Leasehold improvements

 

 

936

 

 

 

821

 

Computer equipment and software

 

 

164

 

 

 

1,132

 

Property and equipment, gross

 

 

5,296

 

 

 

7,019

 

Less accumulated depreciation

 

 

(3,750

)

 

 

(3,672

)

Total property and equipment, net

 

$

1,546

 

 

$

3,347

 

 

Depreciation expense related to property and equipment was approximately $1.1 million and $1.2 million for the years ended December 31, 2025 and 2024, respectively. The Company recognized $0.6 million and zero in impairment charges related to capitalized software as research and development expenses in the statement of operations and comprehensive loss for the years ended December 31, 2025 and 2024, respectively.

 

Other Accrued Expenses and Current Liabilities

Other accrued expenses and current liabilities consist of the following (in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Accrued research and development expenses - Contract Research Organizations

 

$

6,393

 

 

$

5,669

 

Accrued research and development expenses - Contract Manufacturing Organizations

 

 

4,908

 

 

 

5,487

 

Other accrued expenses

 

 

2,171

 

 

 

2,903

 

Total other accrued expenses and current liabilities

 

$

13,472

 

 

$

14,059