Property and Equipment, Net

6 Months Ended

Jun. 30, 2022

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

4. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consist of the following (in thousands):

	June 30, 2022			December 31, 2021
Research equipment	$	2,813		$	4,974
Office equipment and furniture		536			606
Leaseholder improvement		253			253
Total property and equipment		3,602			5,833
Less accumulated depreciation and amortization		(1,490	)		(1,189	)
Property and equipment, net	$	2,112		$	4,644

Depreciation and amortization expense for the three months ended June 30, 2022 and 2021 was $144 thousand and $122 thousand, respectively, and for the six months ended June 30, 2022 and 2021 was $301 thousand and $220 thousand, respectively.

Effective January 1, 2022, the Company adopted ASC 842 and reclassed capital leases that were previously classified as property and equipment, net were presented separately under right of use assets - financing leases, net on the Company's condensed consolidated balance sheet. $2.2 million relates to items previously classified under research equipment and $70 thousand relates to items previously classified under office equipment and furniture on the table above. These leases are further described in Note 7.