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Property, Equipment and Leasehold Improvements
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Equipment and Leasehold Improvements Property, Equipment and Leasehold Improvements
Property, equipment and leasehold improvements consist of the following:
December 31,
(dollars in millions)20252024
Laboratory equipment$21.3 $20.6 
Leasehold improvements9.1 9.3 
Office equipment3.0 2.7 
Total property, equipment and leasehold improvements33.4 32.6 
Less: accumulated depreciation and amortization(28.2)(25.6)
Property, equipment and leasehold improvements, net$5.2 $7.0 
Depreciation and amortization expense totaled $3.0 million, $4.6 million, and $4.8 million for the years ended December 31, 2025, 2024 and 2023, respectively.
During the year ended December 31, 2024, the Company wrote-off leasehold improvements totaling $2.4 million resulting from the termination of the Terminated Lease, as discussed below in Note 6, Right-of-Use Assets and Liabilities.