Property and Equipment, Net

3 Months Ended

Mar. 31, 2026

4. Property and Equipment, Net

The cost and accumulated depreciation of property and equipment were as follows (in thousands):


	March 31, 2026			December 31, 2025
Lab equipment	$	4,035		$	4,035
Computer and office equipment		1,759			1,759
Construction in process		—			20
Total property and equipment		5,794			5,814
Less: accumulated depreciation		(4,229	)		(3,911	)
Total property and equipment, net	$	1,565		$	1,903

Depreciation expense was $0.3 million and $0.4 million for the three months ended March 31, 2026 and March 31, 2025, respectively.