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Selected Balance Sheet Components
 12 Months Ended
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]  
Selected Balance Sheet Components Selected Balance Sheet Components
 
Inventory

Inventory consisted of the following:
 
December 31,
(In thousands)20242023
Raw materials$12,827 $11,348 
Work-in-process1,571 1,210 
Finished goods2,975 529 
Total inventory$17,373 $13,087 

Property and Equipment

Property and Equipment, net consisted of the following:
 
December 31,
(In thousands)20242023
Machinery and equipment$12,161 $5,562 
Furniture, fixtures and office equipment5,109 1,731 
Computer equipment and software12,318 9,116 
Leasehold improvements77,990 14,901 
Construction in process22,482 32,531 
Total property and equipment, gross130,060 63,841 
Less accumulated depreciation(26,899)(22,206)
Total property and equipment, net$103,161 $41,635 

Depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $4.9 million, $4.0 million and $4.0 million, respectively.

Intangible Assets

Intangible assets, net consisted of the following:

December 31, 2024December 31, 2023
(In thousands)Useful Life (in years)Amortization MethodCostAccumulated AmortizationNetCostAccumulated AmortizationNet
NexoBrid license12Straight-line$7,500 $(1,250)$6,250 $7,500 $(625)$6,875 

Amortization expense for the years ended December 31, 2024 and 2023 was $0.6 million and $0.6 million, respectively. There was no amortization expense recognized during the year ended December 31, 2022. The NexoBrid intangible asset is amortized to cost of product sales.
Future amortization expense of intangible assets as of December 31, 2024 is estimated to be as follows:

(In thousands)Amount
2025$625 
2026625 
2027625 
2028625 
2029625 
Thereafter3,125 
Total$6,250 


Accrued Expenses

Accrued Expenses consisted of the following:
 
December 31,
(In thousands)20242023
Bonus related compensation$10,313 $9,757 
Employee related accruals3,269 3,503 
Insurance reimbursement-related liabilities3,159 3,591 
Other accrued expenses324 364 
Total accrued expenses$17,065 $17,215