LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease, Cost

The following table summarizes quantitative information about the Company’s leases (in thousands):

	Year Ended December 31,
	2023		2022
Finance lease
Interest lease cost	$	17	$	—
Finance lease expense	17		—
Operating leases
Operating lease cost	133		154
Less: sublease income	(5)		(43)
Operating lease expense	128		111
Short-term lease rent expense	15		13
Total rent expense	$	160	$	124

Supplemental information related to leases was as follows (dollar amounts in thousands):

	Year Ended December 31,
	2023			2022
Operating cash flows from finance lease	$	17		$	—
Operating cash flows from operating leases	$	121		$	154
Right-of-use assets obtained in exchange for finance lease liabilities	$	739		$	—
Right-of-use assets obtained in exchange for operating lease liabilities	$	399		$	242
Noncash research and development expense for the right-of-use assets (finance lease)	$	739		—
Weighted-average remaining lease term – finance leases (in years)	3.8			—
Weighted-average remaining lease term – operating leases (in years)	3.0			0.7
Weighted-average discount rate – finance leases	9.7		%	—
Weighted-average discount rate – operating leases	9.7		%	10.0		%

Schedule of Finance Lease, Liability, to be Paid, Maturity

As of December 31, 2023, the present value of maturities of the Company’s finance lease liabilities were as follows (in thousands):

Year ended December 31, 2024	$	763
Total	763
Less: present value discount	(7)
Finance lease liability	$	756

Schedule of Lessee, Operating Lease, Liability, Maturity

As of December 31, 2023, the present value of maturities of the Company’s operating lease liabilities were as follows (in thousands):

Year ended December 31, 2024	$	143
Year ended December 31, 2025	155
Year ended December 31, 2026	158
Total	456
Less: present value discount	(63)
Operating lease liability	$	393