v3.26.1
Property and Equipment and Related Impairment (Tables)
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property Plant And Equipment Depreciation expense is recognized using the straight-line method over the estimated useful life of each asset as follows:

 

Property and Equipment

 

Estimated Useful Life

Laboratory equipment

 

5 years

Computer software and equipment

 

3 years

Office furniture and fixtures

 

7 years

Leasehold improvements

 

Shorter of useful life or remaining term of related lease

Property and equipment consist of the following (in thousands):

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

Property and equipment:

 

 

 

 

 

 

Laboratory equipment

 

$

3,927

 

 

$

3,927

 

Computer software and equipment

 

 

159

 

 

 

159

 

Office furniture and fixtures

 

 

961

 

 

 

961

 

Leasehold improvements

 

 

553

 

 

 

486

 

Total

 

$

5,600

 

 

$

5,533

 

Accumulated depreciation

 

 

(4,549

)

 

 

(4,129

)

Property and equipment, net

 

$

1,051

 

 

$

1,404

 

Accumulated depreciation includes $1.9 million related to loss on impairment in 2024 of property and equipment described below at December 31, 2025 and 2024. In addition, the Company recognized approximately $0.5 million of depreciation expense for each of the years ended December 31, 2025 and 2024.