PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2025

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, 2025		December 31, 2024
Furniture and equipment	$	1,534	$	1,534
Leasehold improvements	306		306
Less accumulated depreciation	(1,494)		(1,407)
Total property and equipment, net	$	346	$	433

Depreciation expense was $87,000 and $101,000 for the three months ended March 31, 2025 and 2024, respectively.

Intangible assets, net of accumulated amortization, were $38,000 and $92,000 as of March 31, 2025 and December 31, 2024, respectively, and are included in other assets. Amortization expense was $53,000 and $35,000 for the three months ended March 31, 2025 and 2024, respectively.