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Fixed Assets, Net
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Fixed Assets, Net

4. Fixed Assets, Net

Fixed assets, net consisted of the following (in thousands):

 

 

 

MARCH 31,
2026

 

 

DECEMBER 31,
2025

 

Laboratory equipment

 

$

2,084

 

 

$

1,506

 

Manufacturing equipment

 

 

298

 

 

 

300

 

Furniture and fixtures

 

 

159

 

 

 

159

 

Networking and computer equipment

 

 

228

 

 

 

227

 

Leasehold improvements

 

 

3,008

 

 

 

3,008

 

Total fixed assets

 

$

5,777

 

 

$

5,200

 

Less: accumulated depreciation

 

 

(3,702

)

 

 

(3,558

)

Fixed assets, net

 

$

2,075

 

 

$

1,642

 

 

Depreciation expense was $0.1 million and $0.2 million for the three months ended March 31, 2026 and 2025, respectively.