PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS

PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS

Property and equipment is summarized as follows:

(in thousands)	March 31, 2024		December 31, 2023
Furniture and equipment	$	1,482	$	1,463
Leasehold improvements	306		306
Less accumulated depreciation	(1,102)		(1,001)
Total property and equipment, net	$	686	$	769

Depreciation expense was $101,000 and $108,000 for the three months ended March 31, 2024 and 2023, respectively.

Intangible assets, net of accumulated amortization, were $148,000 and $186,000 as of March 31, 2024 and December 31, 2023, respectively, and are included in other assets. Amortization expense was $35,000 and $36,000 for the three months ended March 31, 2024 and 2023, respectively.