Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT, NET (Tables)

v3.25.1
PROPERTY AND EQUIPMENT, NET (Tables)
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
SCHEDULE OF PROPERTY AND EQUIPMENT

Property and equipment are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follows (in thousands):

 

    Useful lives (years)  

March 31, 2025

   

December 31, 2024

 
                 
Laboratory equipment   5   $ 9,186     $ 8,868  
Furniture, software and office equipment   3 to 5     1,189       1,113  
Leasehold improvements   Shorter of remaining lease term or useful life     8,805       8,805  
Construction-in-progress         3,280       624  
Subtotal         22,460       19,410  
Less: accumulated depreciation         (15,513 )     (14,980 )
Total property and equipment, net       $ 6,947     $ 4,430