The estimated useful lives of other categories of property and equipment are as follows:
Category:Estimated Useful Life:
Computer software and equipment
3 - 5 years
Leasehold improvements5 years
Office equipment and furniture7 years
Laboratory equipment5 years
Property and equipment, net are as follows (in thousands):
December 31,
20252024
Office equipment and furniture$453 $448 
Computer software and equipment574 670 
Laboratory equipment2,125 2,306 
Leasehold improvements246 246 
Less: accumulated depreciation(1,526)(1,004)
Property and equipment, net$1,872 $2,666 

Historical Timeline

Fiscal YearFiled
2025Mar 16, 2026Showing above
2024Mar 20, 2025

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.