Annual report [Section 13 and 15(d), not S-K Item 405]

Property, Plant and Equipment

v3.26.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 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):
December 31,
2025		 December 31,
2024		 Estimated Useful Life
Leasehold improvements $ —  $ 1,241  Lesser of lease term or estimated useful life
Machinery 104  482 
3-7 years
Lab equipment 5,102  11,813 
3-7 years
Computer equipment and software 36  2,562 
3-5 years
Furniture and fixtures 151  383  5 years
5,393  16,481 
Less: accumulated depreciation (3,361) (8,980)
Total property, plant and equipment, net $ 2,032  $ 7,501 
Depreciation expense for Fiscal 2025 and 2024 were $2.2 million and $4.2 million, respectively.
In conjunction with the Company's New York office lease termination in June 2025 (see Note 12, 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 general and administrative expenses on the consolidated statement of operations.