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PROPERTY AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 3 – PROPERTY AND EQUIPMENT 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) |  | 2023 |  |  | 2022 |
|  |  |  | As of December 31, |
|  | Useful lives (years) |  | 2023 |  |  | 2022 |
Laboratory equipment |  | 5 |  | $ | 6,935 |  |  | $ | 7,636 |
Furniture, software and office equipment |  | 3 to 5 |  |  | 986 |  |  |  | 1,379 |
Leasehold improvements |  | Shorter of remaining lease term or useful life |  |  | 8,603 |  |  |  | 8,605 |
Construction-in-progress |  |  |  |  | — |  |  |  | — |
Subtotal |  |  |  |  | 16,524 |  |  |  | 17,620 |
Less: accumulated depreciation |  |  |  |  | (12,991 | ) |  |  | (11,879 | )
Total property and equipment, net |  |  |  | $ | 3,533 |  |  | $ | 5,741 |
Depreciation and amortization on property and equipment was $2.3 million and $3.1 million for the years ended December 31, 2023 and 2022, respectively. The Company incurred a loss on disposal of equipment of $47,000 and $0.1 million during the years ended December 31, 2023 and 2022, respectively, which is reflected in other income in the 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, 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 year ended December 31, 2022, which was net of a cash refund from the builder of $1.5 million.

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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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