Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

7. PROPERTY AND EQUIPMENT

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


	September 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		(4,010	)		(3,556	)
Property and equipment, net	$	519		$	973

Depreciation expense was $0.2 million and $0.2 million for the three months ended September 30, 2024 and 2023, respectively and $0.5 million and $0.5 million for the nine months ended September 30, 2024 and 2023, respectively.

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