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PROPERTY AND EQUIPMENT, NET
 3 Months Ended
Mar. 31, 2024
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):

 

   Useful lives (years)  March 31, 2024   December 31, 2023 
            
Laboratory equipment  5  $7,498   $6,935 
Furniture, software and office equipment  3 to 5   1,045    986 
Leasehold improvements  Shorter of remaining lease term or useful life   8,706    8,603 
Subtotal      17,249    16,524 
Less: accumulated depreciation      (13,482)   (12,991)
Total property and equipment, net     $3,767   $3,533 

 

Depreciation and amortization on property and equipment was $0.5 million and $0.7 million for the three months ended March 31, 2024 and 2023, respectively.