Balance sheet components

12 Months Ended

Dec. 31, 2024

Balance sheet components

Balance sheet components

5. Balance sheet components

Property and equipment

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

	December 31,
	2024		2023
Lab equipment	$	9,501	$	5,386
Construction in progress		3,297		—
Leasehold improvements		1,636		233
Computer equipment		270		326
Office equipment and furniture and fixtures		158		36
Property and equipment at cost		14,862		5,981
Less accumulated depreciation and amortization		(4,749)		(3,908)
Property and equipment, net	$	10,113	$	2,073

Depreciation and amortization expense was $1.6 million and $0.5 million for the years ended December 31, 2024 and 2023, respectively.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):

	December 31,
	2024		2023
Research and development	$	24,185	$	1,794
Compensation and related benefits		5,222		2,734
Severance accruals		639		1,436
Professional services and consulting		933		1,019
Operating lease liabilities, current portion		63		310
Other		2,135		732
Total accrued expenses and other current liabilities	$	33,177	$	8,025