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PROPERTY AND EQUIPMENT, NET
 6 Months Ended
Jun. 30, 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):

 

SCHEDULE OF PROPERTY AND EQUIPMENT

   Useful lives (years)  June 30, 2024   December 31, 2023 
            
Laboratory equipment  5  $8,140   $6,935 
Furniture, software and office equipment  3 to 5   1,057    986 
Leasehold improvements  Shorter of remaining lease term or useful life   8,744    8,603 
Subtotal      17,941    16,524 
Less: accumulated depreciation      (13,966)   (12,991)
Total property and equipment, net     $3,975   $3,533 

 

 

Depreciation and amortization are reflected in research and development and general and administrative expenses in the consolidated statements of operations and comprehensive income (loss), as determined by the underlying activities. Depreciation and amortization on property and equipment was $0.5 million and $0.6 million for the three months ended June 30, 2024 and 2023, respectively and $1.0 million and $1.3 million for the six months ended June 30, 2024 and 2023, respectively.