Supplementary Balance Sheet Information

6 Months Ended

Jun. 30, 2025

Balance Sheet Related Disclosures [Abstract]

Note 5 – Supplementary Balance Sheet Information

Property and equipment consist of the following (in thousands):


	As of
	June 30, 2025			December 31, 2024
Lab equipment	$	6,016		$	5,854
Leasehold improvements		28,219			28,192
Computer equipment		1,150			1,305
Furniture and fixtures		1,114			1,100
Software		325			325
Vehicles		97			97
Construction in process		29			89
		36,950			36,962
Less accumulated depreciation		(10,815	)		(9,134	)
Total property and equipment, net	$	26,135		$	27,828

Depreciation expense was $0.9 million and $1.8 million for both the three and six months ended June 30, 2025 and 2024, respectively.

Intangible assets, excluding goodwill, consist of the following (in thousands):


	June 30, 2025							December 31, 2024
	Cost		Accumulated Amortization			Net Carrying Value		Cost		Accumulated Amortization			Net Carrying Value
Intangible assets subject to amortization
Patents	$	1,941	$	(942	)	$	999	$	1,940	$	(877	)	$	1,063
Purchased technology		16,900		(13,145	)		3,755		16,900		(12,206	)		4,694
Intangible assets not subject to amortization
Trademarks		117		—			117		117		—			117
Total	$	18,958	$	(14,087	)	$	4,871	$	18,957	$	(13,083	)	$	5,874

Amortization expense related to definite-lived intangible assets was $0.5 million and $1.0 million for both the three and six months ended June 30, 2025 and 2024, respectively.

Future estimated amortization expense of intangible assets is (in thousands):


	As of June 30, 2025
Remainder of 2025		1,012
2026		2,003
2027		1,046
2028		96
2029		87
2030 and thereafter		510
Total	$	4,754

Accrued liabilities consist of the following (in thousands):


	As of
	June 30, 2025		December 31, 2024
Compensation related accruals	$	6,541	$	6,770
Accrued clinical trial expenses		803		919
Other expenses		2,340		2,375
Total accrued liabilities	$	9,684	$	10,064