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PROPERTY AND EQUIPMENT, NET | 3 Months Ended
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Mar. 31, 2023
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) |  | March 31, 2023 |  |  | December 31, 2022 |
Laboratory equipment |  | 5 |  | $ | 7,849 |  |  | $ | 7,636 |
Furniture, software and office equipment |  | 3 to 5 |  |  | 1,384 |  |  |  | 1,379 |
Leasehold improvements |  | Shorter of remaining lease term or useful life |  |  | 8,605 |  |  |  | 8,605 |
Subtotal |  |  |  |  | 17,838 |  |  |  | 17,620 |
Less: accumulated depreciation |  |  |  |  | (12,540 | ) |  |  | (11,879 | )
Total property and equipment, net |  |  |  | $ | 5,298 |  |  | $ | 5,741 |
Depreciation expense was $0.7 and $0.8 million for the three months ended March 31, 2023 and 2022, respectively. 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, 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 $3.3 million for the three months ended March 31, 2022.

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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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