Property and Equipment, net

3 Months Ended

Mar. 31, 2026

Property and Equipment, net consisted of the following (in thousands):


	MARCH 31, 2026			DECEMBER 31, 2025
Leasehold improvements	$	3,075		$	3,075
Furniture and fixtures		1,760			1,760
Lab equipment		1,469			1,469
IT equipment		992			992
Less: Accumulated depreciation		(2,016	)		(1,608	)
Total	$	5,280		$	5,688

The Company recognized $0.4 million and $0.2 million of depreciation expense for the three months ended March 31, 2026 and 2025, respectively.