5.       Balance Sheet Components

Property and Equipment, Net

Property and equipment, net of continuing operations consisted of the following:

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Depreciation and amortization expense related to property and equipment, net was $0.4 million and $0.6 million for the three months ended March 31, 2025 and 2024, respectively.

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As of March 31, 2025 and December 31, 2024, the net book value of software implementation costs of continuing operations related to hosting arrangements was $1.1 million and $1.7 million, respectively, and the amortization expense was immaterial for all periods presented.

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Intangible Assets, Net

Intangible assets, net of continuing operations consisted of the following:

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Amortization expense related to finite-lived intangible assets was $0.7 million and $0.9 million in the three months ended March 31, 2025 and 2024, respectively.

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The out-licensed partnership program with Novartis Institutes for Biomedical Research, Inc. (“Novartis Institutes”) (NZV930), acquired as part of the Surface Acquisition, was terminated by Novartis Institutes with an effective date of October 2, 2024. As a result, during the first quarter of 2024, the Company recognized a net impairment charge of $6.8 million in selling, general and administrative expenses in the condensed consolidated statements of operations relating to the write-off of the net carrying value of the Novartis Institutes out-license intangible asset of $10.6 million and the final remeasurement of the CVR liability related to NZV930 of $3.8 million to its fair value of zero.

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Accrued and Other Current Liabilities

Accrued and other current liabilities of continuing operations consisted of the following:

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Other Liabilities, Non-current

Other liabilities, non-current of continuing operations consisted of the following:

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