4. Balance Sheet Components Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
Useful Life |
|
March 31, |
|
December 31, |
|
|
(In Years) |
|
2026 |
|
2025 |
|
Laboratory equipment |
5 |
|
$ |
15,925 |
|
$ |
15,062 |
|
Computer equipment |
3 |
|
|
503 |
|
|
503 |
|
Software |
3 |
|
|
267 |
|
|
267 |
|
Leasehold improvements |
Shorter of useful life or lease term |
|
|
5,367 |
|
|
5,124 |
|
Furniture and fixtures |
5 |
|
|
1,517 |
|
|
1,517 |
|
Total property and equipment |
|
|
|
23,579 |
|
|
22,473 |
|
Less: Accumulated depreciation and amortization |
|
|
|
(14,945 |
) |
|
(14,256 |
) |
Property and equipment, net |
|
|
$ |
8,634 |
|
$ |
8,217 |
|
Depreciation and amortization expense was $0.7 million and $0.6 million for the three months ended March 31, 2026 and March 31, 2025, respectively. Accrued Liabilities Accrued liabilities consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Accrued research and development expenses |
|
$ |
33,088 |
|
|
$ |
26,508 |
|
Accrued salaries and benefits |
|
|
6,230 |
|
|
|
11,198 |
|
Legal and professional fees |
|
|
3,239 |
|
|
|
2,124 |
|
Other |
|
|
1,188 |
|
|
|
1,062 |
|
Accrued liabilities |
|
$ |
43,745 |
|
|
$ |
40,892 |
|
|