Property and equipment, net, as of June 30, 2026 and December 31, 2025 was comprised as follows (in thousands):


	Estimated Useful Life (in Years)	June 30, 2026			December 31, 2025
Laboratory equipment	5	$	8,358		$	8,312
Furniture and office equipment	4		651			651
Computer equipment	3		89			89
Leasehold improvements	Shorter of useful life or remaining lease term		9,681			9,681
Total property and equipment, gross			18,779			18,733
Less: accumulated depreciation			(11,302	)		(10,569	)
Total property and equipment, net		$	7,477		$	8,164

Property, plant and equipment are recorded at historical cost, net of accumulated depreciation. Depreciation expense for the three months ended June 30, 2026 and 2025 was $0.4 million and $1.2 million, respectively. Depreciation expense for the six months ended June 30, 2026 and 2025 was $0.7 million and $2.5 million, respectively.