Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.1
Property and Equipment
 3 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment

3. Property and Equipment

 

Property and equipment are recorded at cost and depreciated over the estimated useful lives of the underlying assets (three to five years) using the straight-line method. As of March 31, 2026, and December 31, 2025, property and equipment consist of (table in thousands):

  

    March 31, 2026     December 31, 2025  
Lab equipment (excluding equipment under finance leases)   $ 1,777     $ 1,777  
Finance lease right-of-use lab equipment obtained in exchange for finance lease liabilities, net     162       162  
Computer and office equipment     155       155  
Total property and equipment     2,094       2,094  
Less: accumulated depreciation and amortization     (2,013 )     (2,001 )
Property and equipment, net   $ 81     $ 93  

 

Total depreciation and amortization expense were approximately $12,000 and $25,000 for the three months ended March 31, 2026 and 2025, For additional finance leases information, refer to Note 7 – Commitments and Contingencies.