Property and Equipment, net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

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


	Useful Life	June 30, 2024		December 31, 2023
Land	—	$	5,025	$	5,025
Buildings	40 years	8,325		8,325
Furniture and fixtures	7 years	749		749
Lab equipment	5 years	4,004		4,004
Leasehold improvements	Lesser of estimated useful life or related lease term	52		52
Office equipment	5 years	17		17
Vehicles	5 years	27		112
		18,199		18,284
Less: Accumulated depreciation		(4,343)		(3,825)
Total Property and Equipment		$	13,856	$	14,459

Depreciation expense related to property and equipment was $0.3 million and $0.6 million for the three and six months ended June 30, 2024 and 2023, respectively. No gains or losses on the disposal of property and equipment have been recorded for the three months ended June 30, 2024 and 2023. Less than $0.1 million in losses and no gains or losses on the disposal of property and equipment have been recorded for the six months ended June 30, 2024 and 2023, respectively.