Property and Equipment, Net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

5. Property and equipment, net

On January 19, 2023, the Company announced a strategic prioritization of clinical development of CYT-0851, which included the discontinuation of preclinical efforts and a workforce reduction by approximately 70% of the Company's

workforce. For the nine months ended September 30, 2023, the Company recognized a loss on disposal of property and equipment totaling $0.9 million on the Company's condensed consolidated statement of operations.

Property and equipment, net consisted of the following (in thousands):


Acquisition cost	Laboratory and computer equipment			Leasehold improvements			Total
As of December 31, 2022	$	1,846		$	1,675		$	3,521
Disposals		(1,752	)		(1,266	)		(3,018	)
As of September 30, 2023	$	94		$	409		$	503

Accumulated depreciation and amortization	Laboratory and computer equipment			Leasehold improvements			Total
As of December 31, 2022	$	(827	)	$	(995	)	$	(1,822	)
Depreciation expense		(63	)		(305	)		(368	)
Disposals		866			926			1,792
As of September 30, 2023	$	(24	)	$	(374	)	$	(398	)

Carrying amount	Laboratory and computer equipment			Leasehold improvements			Total
As of December 31, 2022	$	1,019		$	680		$	1,699
As of September 30, 2023	$	70		$	35		$	105

For the three months ended September 30, 2023 and 2022, depreciation and amortization expense related to property and equipment was $0.1 million and $0.2 million, respectively. For the nine months ended September 30, 2023 and 2022, depreciation and amortization expense related to property and equipment was $0.4 million and $0.5 million, respectively.