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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

 

7. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following (in thousands):

         
   December 31, 
   2023   2022 
Laboratory equipment  $173   $210 
Computer equipment   165    145 
Furniture and fixtures   92    85 
Leasehold improvements   24    24 
Software   4    4 
Office equipment   4    4 
    462    472 
Less: Accumulated depreciation and amortization   (362)   (314)
Total net assets  $100   $158 

  

Depreciation and amortization expense relating to property and equipment was approximately $77,000 for each of the years ended December 31, 2023 and 2022. The Company depreciates computer equipment, laboratory equipment and office equipment on straight-line basis over three years. Furniture and fixtures are depreciated on a straight-line basis over five years. The Company amortizes software on straight-line basis over three years. Leasehold improvements are amortized over the remaining life of the lease.