Quarterly report [Sections 13 or 15(d)]

Property and Equipment

Property and Equipment

6 Months Ended

Jun. 30, 2025

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 (3three to five years) using the straight-line method. As of June 30, 2025, and December 31, 2024, property and equipment consists of (table in thousands):

	June 30, 2025			December 31, 2024
Lab equipment (excluding equipment under finance leases)	$	1,765		$	1,765
Finance lease right-of-use lab equipment obtained in exchange for finance lease liabilities, net		162			162
Computer and office equipment		155			155
Total property and equipment		2,082			2,082
Less: accumulated depreciation and amortization		(1,975	)		(1,929	)
Property and equipment, net	$	107		$	153

Total depreciation and amortization expense were approximately $46,000 and $68,000 for the six months ended June 30, 2025 and 2024, which includes amortization expense of $0 and $0 for the six months ended June 30, 2025 and 2024, respectively, related to assets under finance lease. For additional finance leases information, refer to Note 7 – Commitments and Contingencies.