6. Balance Sheet Components Property and Equipment, Net Property and equipment, net consists of the following: | | | | | | | | | June 30, | | December 31, | (in thousands) | | 2026 | | 2025 | Equipment | | $ | 3,232 | | $ | 2,743 | Office furniture | | | 459 | | | 444 | Leasehold improvements | | | 171 | | | 159 | Property and equipment, gross | | | 3,862 | | | 3,346 | Less accumulated depreciation and amortization | | | (1,817) | | | (1,631) | Total Property and equipment, net | | $ | 2,045 | | $ | 1,715 |
As of June 30, 2026, $703,000 of equipment is not yet in service and has not yet commenced depreciation. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: | | | | | | | | | June 30, | | December 31, | (in thousands) | | 2026 | | 2025 | Clinical trial accruals | | $ | 3,087 | | $ | 4,151 | Accrued compensation | | | 1,944 | | | 4,160 | Other accrued expenses | | | 1,500 | | | 1,579 | Total Accrued expenses and other liabilities | | $ | 6,531 | | $ | 9,890 |
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