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Property and Equipment, Net | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following (in thousands):
| December 31,
| 2023 |  | 2022
Laboratory equipment | $ | 46 |  |  | $ | 46 |
Office equipment and furniture | 2,433 |  |  | 2,089 |
Leasehold improvements | 8,731 |  |  | 8,745 |
Property and equipment, gross | 11,210 |  |  | 10,880 |
Less: accumulated depreciation | (10,201) |  |  | (9,657) |
Total property and equipment, net | $ | 1,009 |  |  | $ | 1,223 |
We recognized depreciation expense in the amount of $0.6 million, $0.7 million, and $1.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. During the year ended December 31, 2022, following the elimination of our internal research organization in the fourth quarter of 2021, we sold laboratory equipment with total net carrying value of $0.5 million and received cash proceeds of $1.8 million, resulting in a gain of $1.3 million which has been reported within other income, net on our statement of operations and comprehensive loss.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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