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Fixed Assets
12 Months Ended
Dec. 31, 2024
Assets [Abstract]  
Fixed Assets
5.
Fixed Assets

Fixed assets, net consisted of the following:

 

 

 

 

 

December 31,

 

 

December 31,

 

 

 

Useful Life

 

2024

 

 

2023

 

 

 

 

 

(in thousands)

 

Computer equipment

 

5 years

 

$

117

 

 

$

117

 

Lab equipment

 

5 years

 

 

1,707

 

 

 

1,192

 

Furniture and fixtures

 

7 years

 

 

555

 

 

 

555

 

Leasehold improvements

 

lease term

 

 

45

 

 

 

45

 

 Total property, plant and equipment

 

 

 

 

2,424

 

 

 

1,909

 

Less: Accumulated depreciation

 

 

 

 

(1,543

)

 

 

(1,225

)

 Property, plant and equipment, net

 

 

 

$

881

 

 

$

684

 

 

Depreciation expense was $0.3 million and $0.2 million for the years ended December 31, 2024 and 2023, respectively. In addition, for the years ended December 31, 2024 and 2023, there was $0.1 million of depreciation related to sublet assets recorded as other expense.