Composition of Certain Condensed Consolidated Financial Statement Line Items

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Certain Condensed Consolidated Financial Statement Line Items

Property and Equipment, Net

Property and equipment consisted of the following:


(in thousands)	March 31, 2024		December 31, 2023
Laboratory equipment	$	6,402	$	6,337
Leasehold improvements	118		118
Computer hardware	222		222
Furniture, fixtures and office equipment	324		324
Prototype equipment	1,473		996
Construction in progress	1,132		904
	9,671		8,901
Less: Accumulated depreciation	(5,146)		(4,634)
Total	$	4,525	$	4,267

The Company recorded depreciation expense of $0.5 million and $0.4 million for the three months ended March 31, 2024 and 2023, respectively, which was primarily allocated to research and development expense.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:


(in thousands)	March 31, 2024		December 31, 2023
Employee compensation	$	2,299	$	2,590
Accrued research and development	760		731
Accrued professional and consulting fees	319		245
Other	299		379
Total	$	3,677	$	3,945

Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash consisted of the following:


(in thousands)	March 31, 2024		December 31, 2023
Cash and cash equivalents	$	25,729	$	19,397
Restricted cash included in other long-term assets (Note 8)	1,002		1,002
Total	$	26,731	$	20,399

Other long-term assets consisted of $1.0 million of restricted cash and $0.2 million of deposits as of March 31, 2024, and $1.0 million of restricted cash and $0.2 million of deposits as of December 31, 2023.