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Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

Note 8. Property and Equipment, Net

Property and equipment, net consisted of the following:

As of December 31, 

(in thousands)

  ​ ​ ​

2025

  ​ ​ ​

2024

Laboratory machinery and equipment

$

33,273

$

31,092

Office and computer equipment

 

2,054

 

1,595

Leasehold improvements

 

23,343

 

24,390

Construction in progress

39

1,971

Total property and equipment

 

58,709

 

59,048

Less: accumulated depreciation

 

(29,843)

 

(20,883)

Property and equipment, net

$

28,866

$

38,165

 

 

Depreciation expense was $10.1 million and $8.2 million for the years ended December 31, 2025 and 2024, respectively.