| Balance Sheet Components |
Balance Sheet Components Prepaid expenses and other current assets consist of the following (amounts in thousands): | | | | | | | | | | | | | December 31, | | 2025 | | 2024 | | Research and development costs | $ | 10,354 | | | $ | 6,314 | | | Interest receivable | 3,360 | | | 287 | | | Value added tax receivable | 2,131 | | | 1,528 | | | Insurance related expenses | 773 | | | 840 | | | Income tax receivable | 933 | | | — | | | Other | 1,827 | | | 1,495 | | | $ | 19,378 | | | $ | 10,464 | |
Accrued expenses and other current liabilities consist of the following (amounts in thousands): | | | | | | | | | | | | | December 31, | | 2025 | | 2024 | Research and development costs∗ | $ | 17,694 | | | $ | 38,063 | | | Personnel related expenses | 14,467 | | | 9,465 | | | Professional fees | 1,422 | | | 1,782 | | | Interest payable | 840 | | | — | | | Operating lease | 713 | | | 602 | | | Income tax liability | — | | | 835 | | | Other | 217 | | | 108 | | | $ | 35,353 | | | $ | 50,855 | | ∗Includes accrued contract termination costs of $30.3 million as of December 31, 2024 which was fully extinguished as of December 31, 2025. See Note 8. | | | |
Property and equipment, net consisted of the following (amounts in thousands): | | | | | | | | | | | | | December 31, | | 2025 | | 2024 | | Computer equipment | $ | 1,139 | | | $ | 768 | | Office furniture | 724 | | | 724 | | Office equipment | 43 | | | 43 | | | Property and equipment, at cost | $ | 1,906 | | | $ | 1,535 | | | Less: Accumulated depreciation | (1,099) | | | (791) | | | Property and equipment, net | $ | 807 | | | $ | 744 | |
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