Property and Equipment, Net

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property and equipment, net consist of the following (in thousands):


	March 31, 2026		December 31, 2025
Lab equipment	$	3,301	$	3,262
Manufacturing equipment	7,602		7,582
Office equipment	30		30
Leasehold improvements	15,602		15,418
Software	285		285
Land improvements	80		—
Construction in progress	560		324
Total property and equipment, cost	27,460		26,901
Less: accumulated depreciation and impairment	(14,956)		(14,109)
Property and equipment, net	$	12,504	$	12,792

The Company recorded depreciation and amortization expense of $0.8 million and $0.7 million for the three months ended March 31, 2026 and 2025, respectively.

Management has reviewed its property and equipment for impairment whenever events and circumstances indicate that the carrying value of an asset might not be recoverable. During the three months ended March 31, 2026, impairment losses were immaterial. During the three months ended March 31, 2025, no impairment losses were recorded. Impairment losses are charged to research and development expenses in the condensed consolidated statement of operations. Fair value for the idle assets was determined by a quoted purchase price for the assets