Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.2
Property and Equipment
6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment

3. Property and Equipment

 

Property and equipment are recorded at cost and depreciated over the estimated useful lives of the underlying assets (three to five years) using the straight-line method. As of June 30, 2023, and December 31, 2022, property and equipment consists of (in thousands):

 

    June 30, 2023     December 31, 2022  
Lab equipment   $ 1,708     $ 1,631  
Finance lease right-of-use lab equipment     162       194  
Computer and office equipment     145       131  
Total property and equipment     2,015       1,956  
Less: accumulated depreciation and amortization     (1,710 )     (1,614 )
Property and equipment, net   $ 305     $ 342  

 

Total depreciation and amortization expense were approximately $96,000 and $90,000 for the six months ended June 30, 2023 and 2022, which includes amortization expense of $7,164 and $7,716 for the six months ended June 30, 2023 and 2022, respectively, related to assets under finance lease. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.