v3.26.3
Note 5 - Property and Equipment, Net
9 Months Ended
Sep. 30, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

Note 5. Property and Equipment, Net

 

Property and equipment, net, as of September 30, 2026 and December 31, 2025 were as follows:

 

  

September 30,

  

December 31,

 

(in thousands)

 

2026

  

2025

 

Lab equipment

 $3,501  $3,466 

Office equipment

  178   178 

Computer software

  459   459 

Leasehold improvements

  9,983   9,983 

Construction in progress

  1,310   1,298 
   15,431   15,384 

Less accumulated depreciation

  (10,413)  (9,361)

Total property and equipment, net

 $5,018  $6,023 

 

Depreciation expense recorded in research and development expense and general and administrative expense during the three and nine months ended September 30, 2026 and 2025 was as follows:

 

  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 

(in thousands)

 

2026

  

2025

  

2026

  

2025

 

General and administrative

 $16  $28  $50  $123 

Research and development

  333   337   1,007   1,012 

Total depreciation expense

 $349  $365  $1,057  $1,135