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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of the components of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheets to the total of the amount presented in the condensed consolidated statements of cash flows:

(in thousands)						March 31, 2024						December 31, 2023
Cash and cash equivalents						$	19,060					$	16,358
Restricted cash						560						560
Total cash, cash equivalents and restricted cash presented in the condensed consolidated statements of cash flows						$	19,620					$	16,918

Schedule of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of the components of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheets to the total of the amount presented in the condensed consolidated statements of cash flows:

(in thousands)						March 31, 2024						December 31, 2023
Cash and cash equivalents						$	19,060					$	16,358
Restricted cash						560						560
Total cash, cash equivalents and restricted cash presented in the condensed consolidated statements of cash flows						$	19,620					$	16,918

Schedule of Property and Equipment, Useful Life

When assets are sold, or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in operating income or expense.

Asset						Estimated Useful Life
Lab and office equipment						4 - 7 years
Computer hardware						3 - 5 years
Leasehold improvements						Shorter of the useful life or remaining lease term
Computer software						Shorter of 3 years or useful life of asset

Property and equipment, net, consisted of the following as of March 31, 2024 and December 31, 2023:

(in thousands)						March 31, 2024						December 31, 2023
Leasehold improvements						$	16,077					$	16,077
Lab and office equipment						9,485						9,452
Computer equipment and software						754						754
Construction in progress						1,532						842
Property and equipment, at cost						27,848						27,125
Less accumulated depreciation						(9,891)						(8,876)
Total property and equipment, net						$	17,957					$	18,249

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-1

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Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1

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-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(1)(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

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-Paragraph 8
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-Topic 230
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482913/230-10-50-8

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