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Fixed Assets
 9 Months Ended
Sep. 30, 2025
Assets [Abstract]  
Fixed Assets
5.
Fixed Assets

Fixed assets, net consisted of the following:

 

 

 

 

 

September 30,

 

 

December 31,

 

 

 

Useful Life

 

2025

 

 

2024

 

 

 

 

 

(in thousands)

 

Computer equipment

 

5 years

 

$

130

 

 

$

117

 

Lab equipment

 

5 years

 

 

1,737

 

 

 

1,707

 

Furniture and fixtures

 

7 years

 

 

555

 

 

 

555

 

Leasehold improvements

 

lease term

 

 

93

 

 

 

45

 

 

 

 

 

2,515

 

 

 

2,424

 

Less: Accumulated depreciation

 

 

 

 

(1,806

)

 

 

(1,543

)

 

 

 

$

709

 

 

$

881

 

 

Depreciation expense was $0.1 million and $0.3 million for the three and nine months ended September 30, 2025, respectively. Depreciation expense was $0.1 million and $0.2 million for the three and nine months ended September 30, 2024, respectively. In addition, for the three and nine months ended September 30, 2025 and 2024, there was less than $0.1 million of depreciation related to sublet assets recorded as other expense.