Leasehold Improvements and Equipment |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leasehold Improvements and Equipment |
Note 6 – Leasehold Improvements and Equipment
Leasehold improvements and equipment, summarized by major category, consist of the following as of June 30, 2025 and December 31, 2024:
Depreciation and amortization expense for the three and six months ended June 30, 2025 and 2024 was $12 and $30, respectively. Depreciation and amortization expense for the three and six months ended June 30, 2024 was $90 and $184, respectively.
Assets held for sale, net
On April 19, 2025, the Company initiated a process to sell certain unused laboratory equipment that was previously impaired and carried a net book value of $280. During the three months ended June 30, 2025, the Company sold $210 of the equipment, generating proceeds of $320 and a gain of $110. As of June 30, 2025, the remaining $70 of equipment is classified as held for sale on the Company’s balance sheet. We expect the remaining equipment to be sold prior to December 31, 2025.
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