PROPERTY AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

The following table reflects property and equipment, net as of March 31, 2023 and December 31, 2022 (in thousands): 

	March 31, 2023		December 31, 2022
Furniture and office equipment	$	1,708	$	1,712
Laboratory equipment	20		20
Leasehold improvements	2,945		2,945
	4,673		4,677
Less: Accumulated depreciation	(4,129)		(3,933)
Property and equipment, net	$	544	$	744

Depreciation expense was $0.2 million for each of the three months ended March 31, 2023 and 2022. Depreciation expense is recognized in Selling, general and administrative expense in the Company’s Condensed Consolidated Statements of Comprehensive (Loss) Income.