Balance Sheet Details

12 Months Ended

Dec. 31, 2025

Balance Sheet Details

Balance Sheet Details

6. Balance Sheet Details

Property and Equipment, net

Property and equipment as of December 31, 2025 and 2024 consisted of the following (in thousands):

	December 31, 2025		December 31, 2024
Laboratory equipment	$	21,141	$	21,316
Furniture and fixtures		851		831
Office and computer equipment		440		438
Leasehold improvements		3,802		3,802
Total		26,234		26,387
Less: accumulated depreciation		(14,040)		(13,146)
Property and equipment, net	$	12,194	$	13,241

Depreciation expense totaled $1.5 million and $1.3 million for the years ended December 31, 2025 and 2024, respectively. Property and equipment not in use was $7.8 million and $8.3 million as of December 31, 2025 and 2024, respectively, and is included in the laboratory equipment in the table above. These assets are not depreciated until they are placed in service.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities as of December 31, 2025 and 2024 consisted of the following (in thousands):

	December 31, 2025		December 31, 2024
Accounts payable	$	921	$	766
Accrued clinical trial expenses		77		828
Other accrued expenses		707		461
	$	1,705	$	2,055