Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

6. Property and Equipment, Net

Property and equipment, net consisted of the following:

	December 31,
(in thousands)	2023			2022
Laboratory equipment	$	1,483		$	1,395
Computer equipment		435			435
Construction-in-progress		—			104
Total property and equipment		1,918			1,934
Less: accumulated depreciation and impairment		(1,918	)		(1,004	)
Property and equipment, net	$	—		$	930

Depreciation expense was $0.4 million and $0.7 million for the years ended December 31, 2023 and 2022, respectively. As a result of the December 2023 announcement of the discontinuation of the Company’s three Phase 3 registrational trials and a comprehensive review of strategic alternatives, an impairment loss of $0.5 million was recognized on property and equipment during the year ended December 31, 2023.