| Balance Sheet Components |
4.Balance Sheet Components Property and Equipment, Net Property and equipment, net consists of the following:
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March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
(In thousands) |
|
Leasehold improvements |
|
$ |
26,262 |
|
|
$ |
26,244 |
|
Manufacturing equipment |
|
|
19,485 |
|
|
|
19,485 |
|
Laboratory equipment |
|
|
19,014 |
|
|
|
19,014 |
|
Computer equipment and software |
|
|
1,893 |
|
|
|
1,893 |
|
Furniture and fixtures |
|
|
902 |
|
|
|
902 |
|
Construction in progress |
|
|
100 |
|
|
|
67 |
|
Total property and equipment |
|
$ |
67,656 |
|
|
$ |
67,605 |
|
Less: accumulated depreciation and amortization |
|
|
(41,696 |
) |
|
|
(39,933 |
) |
Total property and equipment, net |
|
$ |
25,960 |
|
|
$ |
27,672 |
|
Depreciation and amortization expense for the three months ended March 31, 2026 and 2025 was $1.8 million and $2.7 million, respectively. Accrued and Other Current Liabilities Accrued and other current liabilities consist of the following:
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March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
(In thousands) |
|
Accrued compensation and related expenses |
|
$ |
3,188 |
|
|
$ |
6,013 |
|
Accrued research and development expenses |
|
|
1,919 |
|
|
|
1,651 |
|
Accrued taxes |
|
|
406 |
|
|
|
277 |
|
Accrued professional services |
|
|
62 |
|
|
|
718 |
|
Other current liabilities |
|
|
455 |
|
|
|
176 |
|
Total accrued and other current liabilities |
|
$ |
6,030 |
|
|
$ |
8,835 |
|
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following:
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|
|
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|
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|
|
|
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March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
(In thousands) |
|
Prepaid expenses |
|
$ |
5,023 |
|
|
$ |
4,014 |
|
Other current assets |
|
|
25 |
|
|
|
1,025 |
|
Total prepaid expenses and other current assets |
|
$ |
5,048 |
|
|
$ |
5,039 |
|
|