Property and Equipment, net

3 Months Ended

Mar. 31, 2025

Property and Equipment, net

Property and Equipment, net

6.Property and Equipment, net

Property and Equipment, net consisted of the following (in thousands):

	MARCH 31, 2025			DECEMBER 31, 2024
Lab equipment	$	1,407		$	1,285
Leasehold improvements		2,658			863
Furniture and fixtures		1,018			—
IT equipment		992			—
Less: Accumulated depreciation		(396	)		(189	)
Total	$	5,679		$	1,959

The Company had property and equipment, net of $5.7 million and $2.0 million as of March 31, 2025 and December 31, 2024, respectively. The Company recognized $0.2 million of depreciation expense for the three months ended March 31, 2025. The Company recognized an immaterial amount of depreciation expense for the three months ended March 31, 2024.