Property and equipment consisted of the following at December 31, 2025 and 2024:

  

       December 31,   December 31, 
(in thousands)  Lives   2025   2024 
Construction in Progress       $104   $
-
 
Lab equipment   5 years    817    817 
Office equipment and furniture   3 - 7 years    438    438 
Less: accumulated depreciation        (1,064)   (891)
Property and equipment, net       $295   $364 

Historical Timeline

Fiscal YearFiled
2025Mar 30, 2026Showing above
2024Mar 31, 2025
2023Mar 29, 2024
2022Mar 31, 2023
2021Mar 25, 2022
2020Mar 31, 2021
2019May 8, 2020
2018Mar 15, 2019
2017Mar 16, 2018
2016Mar 16, 2017
2015Mar 11, 2016

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.