v3.26.1
Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

5. Property and Equipment, Net

Property and equipment, net consisted of the following as of December 31, 2025 and 2024 (in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Leasehold improvements

 

$

1,491

 

 

$

1,491

 

Computer equipment

 

 

130

 

 

 

95

 

Office furniture

 

 

380

 

 

 

374

 

Property and equipment

 

 

2,001

 

 

 

1,960

 

Less: accumulated depreciation

 

 

(420

)

 

 

(101

)

Total property and equipment, net

 

$

1,581

 

 

$

1,859

 

 

Depreciation and amortization expense totaled $0.3 million and $0.1 million for the years ended December 31, 2025 and 2024, respectively, and is recorded in general and administrative expense in the accompanying statements of operations.