v3.26.3
Property and Equipment, Net
 9 Months Ended
Sep. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, Net

4. Property and Equipment, Net

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

 

 

September 30, 2026

 

 

December 31, 2025

 

Laboratory equipment

 

$

21,934

 

 

$

23,852

 

Computer equipment

 

 

3,423

 

 

 

4,058

 

Furniture and office equipment

 

 

2,456

 

 

 

4,523

 

Leasehold improvements

 

 

3,749

 

 

 

30,954

 

Construction in progress

 

 

861

 

 

 

861

 

 

 

 

32,423

 

 

 

64,248

 

Less: Accumulated depreciation and amortization

 

 

(29,424

)

 

 

(56,613

)

 

 

$

2,999

 

 

$

7,635

 

 

 

 

Depreciation and amortization expense was $481, $1,932, $1,044, and $3,179 for the three and nine months ended September 30, 2026 and 2025, respectively. During the three and nine months ended September 30, 2026, the Company disposed of certain assets with a cost basis of $28,670 and $31,825 and a net book value of $2,318 and $2,704, primarily related to leasehold improvements that were impaired in connection with the Termination Agreement as defined in Note 6, Leases, as well as assets that were returned to the landlord in connection with the Lease Amendment as defined in Note 6, Leases. The Company did not dispose of any assets during the three and nine months ended September 30, 2025.