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v3.23.3

Property and Equipment | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment | 5. Property and equipment Property and equipment include the following:
|  | September 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Lab equipment |  | $ | 101 |  |  | $ | 5,706 |
Furniture and office equipment |  |  | 3,238 |  |  |  | 3,238 |
Software |  |  | 291 |  |  |  | 291 |
Total |  |  | 3,630 |  |  |  | 9,235 |
Accumulated depreciation |  |  | (3,087 | ) |  |  | (6,496 | )
Property and equipment, net |  | $ | 543 |  |  | $ | 2,739 |
The Company recognized $385 and $1,879 and $679 and $2,094 of depreciation expense for the three and nine months ended September 30, 2023 and 2022, respectively. In connection with the Agreement and Plan of Merger with Korro Bio, Inc., the Company classified certain lab equipment as held for sale in September 2023. The carrying value of the lab equipment at September 30, 2023 has been removed from property and equipment, net and is presented as assets held for sale of $354 within current assets on the consolidated balance sheets. The Company anticipates the items classified as held for sale to be disposed of in October 2023.

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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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