Property, Machinery and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Note 4. Property, Machinery and Equipment

Property, machinery and equipment, net consisted of the following:


(in thousands)	September 30, 2024		December 31, 2023
Computer equipment	$	10	$	10

Leasehold improvements	2,391		2,394
Machinery and equipment	2,839		3,411

Property, machinery and equipment, gross	5,240		5,815
Less: accumulated depreciation	(2,871)		(2,563)
Property, machinery and equipment, net	$	2,369	$	3,252

Depreciation expense related to property, machinery and equipment was $0.2 million and $0.6 million for the three and nine months ended September 30, 2024, respectively and $0.2 million and $0.6 million for the three and nine months ended September 30, 2023. Depreciation expense is recorded within operating expenses. During three months ended September 30, 2024, the Company sold machinery and equipment with an original cost of $0.6 million and net book value of $0.3 million and received $0.1 million in proceed from said sale.