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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net PROPERTY AND EQUIPMENT, NET
Property and equipment consisted of the following:
December 31,
(in thousands)20242023
Laboratory equipment$46 $46 
Office equipment and furniture2,923 2,433 
Leasehold improvements9,144 8,731 
Property and equipment, gross12,113 11,210 
Less: Accumulated depreciation
(10,618)(10,201)
Total property and equipment, net$1,495 $1,009 
We recognized depreciation expense in the amount of $0.5 million, $0.6 million and $0.7 million in 2024, 2023 and 2022, respectively.