Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

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 September 30, 2023, and December 31, 2022, property and equipment consists of (table in thousands):

	September 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		(1,763	)		(1,614	)
Property and equipment, net	$	252		$	342

Total depreciation and amortization expense were approximately $149,000 and $137,000 for the nine months ended September 30, 2023 and 2022, which includes amortization expense of $7,164 and $20,000 for the nine months ended September 30, 2023 and 2022, respectively, related to assets under finance lease. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.