v3.25.4

Property and Equipment, Net | 12 Months Ended
--- | ---
Dec. 31, 2025
Property and Equipment, Net |
Property and Equipment, Net | 7. Property and Equipment, Net ​ Property and equipment consist of the following:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
(in thousands) | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Research equipment | ​ | $ | 18,150 | ​ | $ | 18,150
Leasehold improvements | ​ |  | 9,309 | ​ |  | 9,309
Computer equipment | ​ |  | 908 | ​ |  | 908
Furniture and fixtures | ​ |  | 186 | ​ |  | 186
Property and equipment, gross | ​ |  | 28,553 | ​ |  | 28,553
Less: accumulated depreciation and amortization | ​ |  | (25,280) | ​ |  | (23,095)
Property and equipment, net | ​ | $ | 3,273 | ​ | $ | 5,458
​ An impairment of $1.2 million on certain research equipment and leasehold improvements was recorded during the year ended December 31, 2024. Depreciation and amortization expense was $2.2 million and $2.9 million for the years ended December 31, 2025 and 2024, respectively.

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