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Other Financial Information | 12 Months Ended
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Dec. 31, 2023
Other Financial Information [Abstract] |
Other Financial Information | Other Financial Information Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands):
|  | December 31,
|  | 2023 |  | 2022
Diagnostic testing supplies |  | $ | 2,871 |  |  | $ | 1,795 |
Prepaid product royalties |  | 35 |  |  | 40 |
Prepaid maintenance and insurance contracts |  | 1,860 |  |  | 2,072 |
Other prepaid expenses and other current assets |  | 31 |  |  | 236 |
Prepaid expenses and other current assets |  | $ | 4,797 |  |  | $ | 4,143 |
Property and Equipment Property and equipment consist of the following (in thousands):
|  | December 31,
|  | 2023 |  | 2022
Furniture and fixtures |  | $ | 98 |  |  | $ | 98 |
Laboratory equipment |  | 5,312 |  |  | 5,136 |
Computer equipment and software |  | 2,185 |  |  | 1,482 |
Leasehold improvements |  | 3,316 |  |  | 5,223 |
Construction in progress |  | 59 |  |  | 1,382 |
Total property and equipment |  | 10,970 |  |  | 13,321 |
Less: accumulated depreciation and amortization |  | (5,769) |  |  | (5,124) |
Property and equipment, net |  | $ | 5,201 |  |  | $ | 8,197 |
Depreciation and amortization expense for the years ended December 31, 2023 and 2022, was approximately $2.2 million and $1.6 million, respectively. At December 31, 2023 and 2022, the gross book value of assets under finance leases was $2.5 million and $2.8 million, respectively, and is classified in "Laboratory equipment" in the table above. Loss on Lease Assignment On October 24, 2023, the Company entered into an assignment and assumption (the Assignment and Assumption Agreement) of the Company’s previously executed lease agreement with Liberty Vista, LP (formerly known as Geiger Court, LLC) and Mindera Corporation (Mindera), pursuant to which the Company assigned to Mindera the lease of a building located adjacent to the Company's headquarters in Vista, CA. Under the terms of the Assignment and Assumption Agreement, Mindera assumed all obligations under the lease, effective October 31, 2023. As a result of the lease assignment, the Company derecognized the remaining balances related to the associated operating lease ROU asset of $0.7 million, operating lease liability of $0.8 million and leasehold improvements of $1.6 million, resulting in a $1.5 million loss on lease assignment. The loss was classified within selling, general and administrative expenses in the accompanying statements of operations. Impairment of Long-Lived Assets and Goodwill During the year ended December 31, 2022, the Company recorded an impairment charge of $0.4 million related to previously capitalized equipment used in research and development activities that were halted in the fourth quarter of 2022. The impairment charge was classified within research and development expenses in the accompanying statements of operations. During the year ended December 31, 2022, the Company also determined that a sustained decrease in its market capitalization constituted an indicator of impairment of goodwill and as a result, instead of performing a qualitative test, the Company chose to proceed directly to performing a quantitative test during the fourth quarter. The Company determined the fair value of the reporting unit using the discounted cash flow (DCF) method, which is considered a Level 3 measurement. In applying the DCF method, cash flows are estimated for a five-year financial forecast developed by management. A terminal value, which represents the value of additional cash flows into perpetuity, is also calculated. Cash flows are then discounted to present value at a discount rate commensurate with their risk. Based on this analysis, the carrying value of the reporting unit was in excess of the fair value and the goodwill was fully impaired. During the year ended December 31, 2022, the Company recorded a goodwill impairment charge of $5.5 million. The following table presents details of the Company's goodwill for the year ended December 31, 2022 (in thousands):
|  | Total
Balance as of December 31, 2021 |  | $ | 5,506 |
Goodwill impairment |  | (5,506) |
Balance as of December 31, 2022 |  | $ | — |
Accrued and Other Current Liabilities Accrued and other current liabilities consist of the following (in thousands):
|  | December 31,
|  | 2023 |  | 2022
Accrued payroll and related expenses |  | $ | 4,738 |  |  | $ | 2,355 |
Accrued interest |  | 139 |  |  | 142 |
Accrued purchases of goods and services |  | 720 |  |  | 803 |
Accrued royalties |  | 463 |  |  | 514 |
Accrued clinical study activity |  | 118 |  |  | 162 |
Finance lease obligations, current portion |  | 490 |  |  | 700 |
Refund liability |  | 302 |  |  | 445 |
Other accrued liabilities |  | 561 |  |  | 226 |
Accrued and other current liabilities |  | $ | 7,531 |  |  | $ | 5,347 |

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- Definition Prepaid Expenses and Other Current Assets; Property, Plant and Equipment; and Accrued Liabilities + References No definition available. + Details
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