Property and Equipment, net

6 Months Ended

Jun. 30, 2026

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


	JUNE 30, 2026			DECEMBER 31, 2025
Leasehold improvements	$	3,075		$	3,075
Furniture and fixtures		1,760			1,760
Lab equipment		1,374			1,469
IT equipment		992			992
Less: Accumulated depreciation		(2,379	)		(1,608	)
Total	$	4,822		$	5,688

The Company recognized $0.4 million and $0.8 million of depreciation expense for the three and six months ended June 30, 2026, respectively, and $0.4 million and $0.6 million of depreciation expense for the three and six months ended June 30, 2025, respectively.