Property, Equipment and Software and Assets Held for Sale

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, EQUIPMENT AND SOFTWARE AND ASSETS HELD FOR SALE

NOTE 8: PROPERTY, EQUIPMENT AND SOFTWARE AND ASSETS HELD FOR SALE

Property, equipment, and software consisted of the following as of December 31, 2024 and December 31, 2023 (in thousands):


	2024		2023
Construction in progress	$	9	$	70
Leasehold improvements		12,028		11,945
Software		432		432
Laboratory equipment		15,086		15,856
Office equipment		1,486		1,399
Furniture and fixtures		2,124		2,124
Total property, equipment and software		31,165		31,826
Less accumulated depreciation and amortization		28,076		25,488
Property, equipment and software - net	$	3,089	$	6,338

Depreciation expense for continuing operations, including amortization of leasehold improvements and software, was $3.4 million and $5.2 million for the years ended December 31, 2024 and 2023, respectively.

As of December 31, 2024, the Company had $0.2 million in property, plant, and equipment that met the criteria for classification as held for sale. These assets are recognized at the lower of net book value or fair value less costs to sell using a market approach. The Company evaluated the fair value of its assets held for sale and determined fair value of the assets held for sale less costs to sell exceeded net book value. Accordingly, the Company recorded an impairment of $0.2 million on assets held for sale during the year ended December 31, 2024 to reflect the difference between net book value and the fair value less costs to sell of assets held for sale. The related impairment is recognized in the accompanying statement of operations in the loss on disposal of assets line item.