Property and Equipment, net

12 Months Ended

Dec. 31, 2025

4. Property and Equipment, net

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


	December 31,
	2025		2024		2023
Computers and software	$	—	$	—	$	26
Office furniture and equipment		—		—		15
Laboratory equipment		—		—		215
Leasehold improvements		—		—		57

Total property and equipment, at cost		—		—		313
Less: Accumulated depreciation and amortization		—		—		(278	)

Property and equipment, net	$	—	$	—	$	35

Depreciation expense

during the years ended December 31, 2025, 2024, and 2023 was

zero

, less than $

0.1

million, and $

0.1

million, respectively. During each of the years ended December 31, 2025 and 2024, the Company received proceeds of less than $

0.1

million from the sale of property and equipment. During the year ended December 31, 2023, the Company received proceeds of $

0.3

million from the sale of property and equipment.