XML 18 R9.htm IDEA: XBRL DOCUMENT
v3.22.2.2

PROPERTY AND EQUIPMENT, NET | 9 Months Ended
--- | ---
Sep. 30, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET | NOTE 3 – PROPERTY AND EQUIPMENT, NET Property and equipment are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follows (in thousands): SCHEDULE OF PROPERTY AND EQUIPMENT
|  | Useful lives (years) |  | September 30, 2022 |  |  | December 31, 2021 |
Laboratory equipment |  | 5 |  | $ | 8,144 |  |  | $ | 9,081 |
Furniture, software and office equipment |  | 3 to 5 |  |  | 1,726 |  |  |  | 1,896 |
Leasehold improvements |  | Shorter of remaining lease term or useful life |  |  | 8,586 |  |  |  | 8,603 |
Construction-in-progress |  |  |  |  | — |  |  |  | 3,219 |
Subtotal |  |  |  |  | 18,456 |  |  |  | 22,799 |
Less: accumulated depreciation |  |  |  |  | (11,850 | ) |  |  | (10,460 | )
Total property and equipment, net |  |  |  | $ | 6,606 |  |  | $ | 12,339 |
Depreciation expense was $0.8 million for the three months ended September 30, 2022 and 2021, respectively, and $2.3 million and $2.4 million for the nine months ended September 30, 2022 and 2021, respectively. During the three and nine months ended September 30, 2022, the Company incurred a loss on disposal of equipment of $16,000 and $0.1 million, respectively, which is reflected in other income (expense) in the condensed consolidated statements of operations and comprehensive loss. On March 31, 2022, the Company announced that it was pursuing a strategic partner to take over development activities of ABO-102 and that it was discontinuing development of ABO-101. As a result of this shift in priorities, the Company determined the construction-in-progress that was dedicated to the ABO-101 and ABO-102 programs had no future value, and thus recorded an impairment charge of $1.8 million for the nine months ended September 30, 2022.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration