PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

The following table reflects property and equipment, net as of June 30, 2023 and December 31, 2022 (in thousands): 

	June 30, 2023		December 31, 2022
Furniture and office equipment	$	1,708	$	1,712
Laboratory equipment	20		20
Leasehold improvements	2,945		2,945
Construction in progress	528		—
	5,201		4,677
Less: Accumulated depreciation	(4,324)		(3,933)
Property and equipment, net	$	877	$	744

Depreciation expense was $0.2 million and $0.4 million for the three and six months ended June 30, 2023, respectively, and $0.2 million and $0.4 million for three and six months ended June 30, 2022, respectively. Depreciation expense is recognized in Selling, general and administrative expense in the Company’s Condensed Consolidated Statements of Comprehensive Income.