Property and Equipment, net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, net

5.Property and Equipment, net

Property and equipment, net, consists of the following:

	December 31,
($ in thousands)	2023			2022
Office and computer equipment	$	15		$	2,183
Software		-			1,291
Leasehold improvements		-			9,561
Laboratory equipment		-			5,232
		15			18,267
Less: accumulated depreciation		(13	)		(9,807	)
Property and equipment, net	$	2		$	8,460

Depreciation expense for the year ended December 31, 2023 was $2.3 million and was $2.8 million for the year ended December 31, 2022. During the year ended December 31, 2023, the Company impaired property and equipment by $4.8 million. Refer to Note 3, Summary of Significant Accounting Policies, for further details.