Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment

v3.25.2
Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
The components of property, plant and equipment are as follows (in thousands):
June 30,
2025		 December 31,
2024		 Estimated Useful Life
Leasehold improvements —  1,241 
Machinery 617  482 
3-7 years
Lab equipment 6,597  11,813 
3-7 years
Computer equipment and software 36  2,562 
3-5 years
Furniture and fixtures 151  383  5 years
7,401  16,481 
Less: accumulated depreciation (3,820) (8,980)
Total property, plant and equipment, net $ 3,581  $ 7,501 
Depreciation expense was $0.7 million and $0.9 million for the three and six months ended June 30, 2025, respectively, compared to $1.5 million and $1.8 million for the three and six months ended June 30, 2024, respectively.
In conjunction with the Company's New York office lease termination in June 2025 (see Note 10, Leases), the Company wrote off approximately $1.4 million fixed assets and leasehold improvements, which was recognized as part of loss from lease termination and was included in the general and administrative expense on the consolidated statement of operations.