v3.26.3
Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property and Equipment, Net  
Property and Equipment, Net

7. Property and Equipment, Net

​

Property and equipment consist of the following:

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​

​

​

​

​

​

​

​

December 31, 

​

December 31, 

(in thousands)

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

​

​

​

Research equipment

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$

18,150

​

$

18,150

Leasehold improvements

​

 

9,309

​

 

9,309

Computer equipment

​

 

908

​

 

908

Furniture and fixtures

​

 

186

​

 

186

Property and equipment, gross

​

 

28,553

​

 

28,553

Less: accumulated depreciation and amortization

​

 

(25,280)

​

 

(23,095)

Property and equipment, net

​

$

3,273

​

$

5,458

​

An impairment of $1.2 million on certain research equipment and leasehold improvements was recorded during the year ended December 31, 2024.

Depreciation and amortization expense was $2.2 million and $2.9 million for the years ended December 31, 2025 and 2024, respectively.