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Balance Sheet Account Details

3 Months Ended

Mar. 31, 2024

Balance Sheet Account Details [Abstract]

6. Balance Sheet Account Details

Property and Equipment, Net

Property and equipment, net, consisted of the following as of March 31, 2024 and December 31, 2023:


(in thousands)	March 31, 2024		December 31, 2023
Leasehold improvements	$	16,077	$	16,077
Lab and office equipment	9,485		9,452
Computer equipment and software	754		754
Construction in progress	1,532		842
Property and equipment, at cost	27,848		27,125
Less accumulated depreciation	(9,891)		(8,876)
Total property and equipment, net	$	17,957	$	18,249

Depreciation expense, which is included in operating expense, was $1.0 million during the three months ended March 31, 2024 and $1.0 million during the three months ended March 31, 2023.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following as of March 31, 2024 and December 31, 2023:


(in thousands)	March 31, 2024		December 31, 2023
Compensation	$	2,939	$	5,247
Due to former parent	496		1,234
Professional service fees	229		431
Royalties owed to third parties	70		139
Other	293		17
Total accrued expenses and other current liabilities	$	4,027	$	7,068