Annual report [Section 13 and 15(d), not S-K Item 405]

PROPERTY AND EQUIPMENT

v3.25.0.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
7.
PROPERTY AND EQUIPMENT

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

 

 

 

December 31,
2024

 

 

December 31,
2023

 

Computer hardware and software

 

$

13

 

 

$

84

 

Office furniture and equipment

 

 

1,114

 

 

 

1,114

 

Leasehold improvements

 

 

3,331

 

 

 

3,331

 

Property and equipment, gross

 

 

4,458

 

 

 

4,529

 

Less: accumulated depreciation

 

 

(4,073

)

 

 

(3,556

)

Property and equipment, net

 

$

385

 

 

$

973

 

 

Depreciation expense was approximately $0.6 million and $0.6 million for the years ended December 31, 2024 and 2023, respectively.