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PROPERTY AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 4 – 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) |  | 2024 |  |  | 2023 |
|  |  |  | As of December 31, |
|  | Useful lives (years) |  | 2024 |  |  | 2023 |
Laboratory equipment |  | 5 |  | $ | 8,868 |  |  | $ | 6,935 |
Furniture, software and office equipment |  | 3 to 5 |  |  | 1,113 |  |  |  | 986 |
Leasehold improvements |  | Shorter of remaining lease term or useful life |  |  | 8,805 |  |  |  | 8,603 |
Construction-in-progress |  |  |  |  | 624 |  |  |  | — |
Subtotal |  |  |  |  | 19,410 |  |  |  | 16,524 |
Less: accumulated depreciation |  |  |  |  | (14,980 | ) |  |  | (12,991 | )
Total property and equipment, net |  |  |  | $ | 4,430 |  |  | $ | 3,533 |
Depreciation and amortization on property and equipment was $2.0 million and $2.3 million for the years ended December 31, 2024 and 2023, respectively. The Company incurred a gain on disposal of equipment of $2,000 and a loss on disposal of $47,000 during the years ended December 31, 2024 and 2023, respectively, which is reflected in other income in the consolidated statements of operations and comprehensive loss.

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