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.

X

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

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-Name Accounting Standards Codification
-Section 50
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-Name Accounting Standards Codification
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