Property and Equipment

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and equipment as of March 31, 2024 and December 31, 2023 consisted of the following:


	March 31, 2024			December 31, 2023
	(in thousands)
Laboratory equipment	$	4,097		$	4,069
Furniture and fixtures		81			81
Computer equipment		169			143
Leasehold improvements		118			118
Total property and equipment		4,465			4,411
Less accumulated depreciation		(3,711	)		(3,616	)
Property and equipment, net	$	754		$	795

Depreciation expense was $96,000 and $174,000 for the three months ended March 31, 2024 and 2023, respectively. Depreciation expense for the three months ended March 31, 2024 and 2023 excludes trademark amortization expense of $3,000. There were no disposals of property and equipment for the three months ended March 31, 2024. During the three months ended March 31, 2023, the Company sold fully depreciated lab equipment with an acquisition cost of $41,000 and collected cash of $2,000. The Company recorded a gain on the sale of fixed assets of $2,000, which is presented in other income on the condensed consolidated statements of operations and comprehensive loss.