PROPERTY AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2024

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, 2024 and December 31, 2023 (in thousands): 

	March 31, 2024		December 31, 2023
Furniture and office equipment	$	1,908	$	1,908
Laboratory equipment	20		20
Leasehold improvements	3,473		2,945
Construction in progress	—		528
	5,401		5,401
Less: Accumulated depreciation	(4,697)		(4,631)
Property and equipment, net	$	704	$	770

Depreciation expense was $0.1 million and $0.2 million for the three months ended March 31, 2024 and 2023, respectively. Depreciation expense is recognized in Selling, general and administrative expense in the Company’s Condensed Consolidated Statements of Comprehensive Loss.