v3.25.1
Property and Equipment
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

3. Property and Equipment

 

Property and equipment are recorded at cost and depreciated over the estimated useful lives of the underlying assets (three to five years) using the straight-line method. As of March 31, 2025, and December 31, 2024, property and equipment consists of (table in thousands):

 

   March 31, 2025   December 31, 2024 
Lab equipment (excluding equipment under finance leases)  $1,765   $1,765 
Finance lease right-of-use lab equipment obtained in exchange for finance lease liabilities, net   162    162 
Computer and office equipment   155    155 
Total property and equipment   2,082    2,082 
Less: accumulated depreciation and amortization   (1,955)   (1,929)
Property and equipment, net  $127   $153 

 

Total depreciation and amortization expense were approximately $25,000 and $35,000 for the three months ended March 31, 2025 and 2024, For additional finance leases information, refer to Note 7 – Commitments and Contingencies.