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


	March 31, 2025			December 31, 2024
Property and equipment:
Laboratory equipment	$	3,927		$	3,927
Computer software and equipment		159			159
Office furniture and fixtures		961			961
Leasehold improvements		486			486
Total	$	5,533		$	5,533
Accumulated depreciation		(4,257	)		(4,129	)
Property and equipment, net	$	1,276		$	1,404

Accumulated depreciation includes $1.9 million related to loss on impairment of property and equipment described below at March 31, 2025 and December 31, 2024. In addition, the Company recognized approximately $0.1 million of depreciation expense for the three months ended March 31, 2025 and 2024.

During the second quarter of 2024 and as a result of the Company’s Phase 3 ENLIGHTEN 1 trial failing to meet its primary endpoint, the Company performed a recoverability test for its property and equipment. The Company concluded that the undiscounted cash flows associated with its property and equipment was less than the carrying value of the property and equipment. The Company compared the fair value of the property and equipment to the carrying value and recorded an impairment charge in the amount of $1.9 million which is included as an impairment of property and equipment in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2024. The Company determined fair market value of the equipment based on a third-party appraisal of the equipment through use of publicly available used equipment quotes. The equipment was valued as of May 15, 2024. The Company reassessed the need for any further impairment as of March 31, 2025, and determined no additional impairment indicators existed.