Property and Equipment

12 Months Ended

Dec. 31, 2024

Property and Equipment

Property and Equipment

(4) Property and Equipment

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

		December 31,
Asset description	Estimated useful lives	2024		2023
Lab equipment	5 Years	$	2,968	$	2,883
Furniture and fixtures	5 Years		366		284
Computer equipment and software	3 Years		733		645
Leasehold improvements	Lesser of useful life or lease term		2,934		2,507
Total			7,001		6,319
Less accumulated depreciation and amortization			(4,660)		(4,335)
Property and equipment, net		$	2,341	$	1,984

The cost of property and equipment at both December 31, 2024 and 2023 includes $0.2 million of equipment located at Aroa. Depreciation expense was $0.6 million, $0.4 million and $0.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.