v3.26.1
Property and Equipment, Net
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Property, Plant and Equipment [Abstract]    
Property and Equipment, Net
Note 3 – Property and Equipment, Net 
As of June 30, 2026 and December 31, 2025, property and equipment, net, consisted of the following: 
 
 
 
 
 
June 30,
2026
 
 
 
December 31,
2025
Laptops and IT equipment
   $   221,917    $   216,535 
Lab equipment
     763,511      711,930 
Furniture and fixtures
     45,370      45,370 
Leasehold improvements
     264,228      208,031 
Construction in progress
     150,503      3,058 
   
 
    
 
Property and equipment, gross
     1,445,529      1,184,924 
Less: accumulated depreciation
     (489,848)     (350,141)
   
 
    
 
Property and equipment, net
   $   955,681    $   834,783 
   
 
    
 
Depreciation expense for the three months ended June 30, 2026 and 2025 was $
68 thousand and $50
thousand, respectively, and for the six months ended June 30, 2026 and 2025 was $140 thousand and $98 thousand, respectively
.
No indicators of impairment were identified, and
 
no
impairment charges were recognized on property and equipment during the three and six months ended June 30, 2026 and 2025.

Note 3 – Property and Equipment, Net
As of December 31, 2025 and 2024, property and equipment, net, was as follows:
 
       
December 31,
       
2025
      
2024
Laptops and IT equipment
   $   216,535    $   82,437 
Lab equipment
     711,930      618,314 
Furniture and fixtures
     45,370      42,375 
Leasehold improvements
     208,031      192,568 
Construction in progress
     3,058      -  
   
 
    
 
Property and equipment, gross
     1,184,924      935,694 
Less: accumulated depreciation
     (350,141)     (132,587)
   
 
    
 
Property and equipment, net
   $   834,783    $   803,107 
   
 
    
 
Depreciation expense for the years ended December 31, 2025 and 2024, was $0.2 million and $0.1 million, respectively.
The Company evaluates property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable, as described in Note 2. No indicators of impairment were identified, and no impairment charges were recognized on property and equipment during the years ended December 31, 2025 and 2024.