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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2024
Property and Equipment, Net [Abstract]  
Property and Equipment, Net

4. Property and Equipment, Net

Major components of property and equipment are as follows (in thousands):

 

 

Useful Lives

 

December 31,
2024

 

 

December 31,
2023

 

Leasehold improvements

 

10 years

 

$

4,402

 

 

$

4,328

 

Furniture/Lab equipment

 

7 years

 

 

3,063

 

 

 

2,483

 

Computer equipment

 

5 years

 

 

120

 

 

 

120

 

Software/Website

 

3 years

 

 

38

 

 

 

38

 

Total property and equipment

 

 

 

 

7,623

 

 

 

6,969

 

Less accumulated depreciation and amortization

 

 

 

 

5,174

 

 

 

4,440

 

Property and equipment, net

 

 

 

$

2,449

 

 

$

2,529

 

 

Depreciation and amortization expense amounted to approximately $0.7 million for the years ended December 31, 2024 and 2023.