Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

7. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following (in thousands):


	June 30, 2024			December 31, 2023
Computer hardware and software	$	84		$	84
Office furniture and equipment		1,114			1,114
Leasehold improvements		3,331			3,331
Property and equipment, gross		4,529			4,529
Less: accumulated depreciation		(3,858	)		(3,556	)
Property and equipment, net	$	671		$	973

Depreciation expense was $0.2 million and $0.2 million for the three months ended June 30, 2024 and 2023, respectively and $0.3 million and $0.3 million for the six months ended June 30, 2024 and 2023, respectively.

The Company notes no impairment charges were taken in the three and six months ended June 30, 2024 and 2023.