Property and Equipment

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

The following table provides a summary of the major components of property and equipment as reflected on the condensed consolidated balance sheets (in thousands):

	March 31, 2025		December 31, 2024
Furniture and fixtures	$	455	$	433
Machinery and equipment	3,192		3,192
Leasehold improvements	16,089		16,089
Total property and equipment	19,736		19,714
Less: accumulated depreciation	(3,747)		(3,160)
Total property and equipment, net	$	15,989	$	16,554

Depreciation expense was $0.6 million and $0.2 million for the three months ended March 31, 2025 and March 31, 2024, respectively.