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

Property and Equipment (Tables)

v3.25.1
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
Property and equipment as of December 31, 2024 and 2023 consisted of the following (in thousands):
 
  December 31,
  2024 2023
Furniture and equipment $ 248  $ 248 
Computers and software 34  34 
Right-of-use assets 741  1,329 
Leasehold improvements 896  896 
Total property and equipment 1,919  2,507 
Less accumulated depreciation (710) (542)
Property and equipment, net $ 1,209  $ 1,965 
Schedule of Assets and Liabilities Lessee
Supplemental balance sheet information related to the leased properties include (in thousands):
  As of December 31,
  2024 2023
Property and equipment, net $ 741  $ 1,329 
Accrued expenses and other current liabilities $ 568  $ 537 
Other long-term liabilities 350  1,366 
Total operating lease liabilities $ 918  $ 1,903 
Schedule of Components of Lease Expense
The components of lease expense for the years ended December 31, 2024 and 2023 were as follows (in thousands):
  Year Ended December 31,
2024 2023
Operating lease cost* $ 456  $ 460 
*Includes short-term leases, which are immaterial.
Schedule of Operating Lease Maturities
The following table shows a maturity analysis of the operating lease liability as of December 31, 2024 (in thousands):
 
  Undiscounted Cash Flows
2025 558 
2026 392 
2027 63 
Thereafter — 
Total lease payments $ 1,013 
Less implied interest (95)
Total $ 918