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PROPERTY AND EQUIPMENT, NET | 6 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET | NOTE 4 – 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, 2025 |  |  | December 31, 2024 |
Laboratory equipment |  | 5 |  | $ | 9,598 |  |  | $ | 8,868 |
Furniture, software and office equipment |  | 3 to 5 |  |  | 2,236 |  |  |  | 1,113 |
Leasehold improvements |  | Shorter of remaining lease term or useful life |  |  | 8,913 |  |  |  | 8,805 |
Construction-in-progress |  |  |  |  | 4,800 |  |  |  | 624 |
Subtotal |  |  |  |  | 25,547 |  |  |  | 19,410 |
Less: accumulated depreciation |  |  |  |  | (16,058 | ) |  |  | (14,980 | )
Total property and equipment, net |  |  |  | $ | 9,489 |  |  | $ | 4,430 |
Construction-in-progress relates to leasehold improvements for the Company’s new office space as well as for conversion of existing office space into additional manufacturing space to increase ZEVASKYN™ manufacturing capacity. Depreciation and amortization on property and equipment was $0.6 million and $0.5 million for the three months ended June 30, 2025 and 2024, respectively and $1.1 million and $1.0 million for the six months ended June 30, 2025 and 2024, respectively. The Company capitalized into inventory $0.1 million relating to depreciation associated with manufacturing equipment and production facilities for the three and six months ended June 30, 2025. The capitalized costs associated are added to inventory and will be expensed through cost of sales product in the condensed consolidated statement of operations and comprehensive income (loss) upon our first commercial sale of ZEVASKYN™

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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