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Property and Equipment, Net
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment recorded in our consolidated balance sheet consists of the following (in thousands):
September 30, 2023December 31, 2022
Property and equipment:
Lab equipment$2,631 $9,761 
Leasehold improvements— 2,157 
Furniture and fixtures— 818 
Computers and software253 253 
Office equipment— 66 
Construction-in-process93 1,122 
Property and equipment2,977 14,177 
Less: accumulated depreciation(2,083)(9,335)
Property and equipment, net$894 $4,842 
We recognized $0.2 million and $0.5 million of depreciation expense for the three months ended September 30, 2023 and 2022, and $1.0 million and $1.5 million for the nine months ended September 30, 2023 and 2022, respectively.
In April 2023, a decision was made to cease further development of EDP1815 in atopic dermatitis, which we considered as an impairment triggering event for related lab equipment. Accordingly, we evaluated the recoverability of the asset group associated with the EDP1815 atopic dermatitis program in accordance with ASC 360. Based on this evaluation, we determined that long-lived assets with a carrying amount of $2.1 million were no longer recoverable, and recorded an impairment charge of $1.6 million to write those assets down to their fair value of $0.5 million for the nine months ended September 30, 2023. During the three months ended September 30, 2023, we disposed of the impaired lab equipment for proceeds of $0.5 million.
On July 14, 2023, we entered into a sublease termination and surrender agreement with our landlord Bio-Rad pursuant to which we agreed to early terminate our office sublease at 620 Memorial Drive, Cambridge, MA 02139, effective as of September 15, 2023. As a result of this early termination, during the three and nine months ended September 30, 2023, we disposed Furniture and fixtures and Office equipment with a carrying value of $0.3 million for proceeds of $0.1 million, and as a result, recognized a loss on disposal of $0.2 million. We have also written down Leasehold improvements to zero and recognized a loss on disposal of $0.6 million for the three and nine months ended September 30, 2023.