v3.26.1
PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
The following table sets forth the Company's property and equipment, net as of June 30, 2026 and December 31, 2025:
June 30,December 31,
(in thousands)20262025
Office equipment$117 $117 
   Property and equipment117 117 
Less: Accumulated depreciation(39)(27)
   Property and equipment, net$78 $90 
Depreciation expense totaled $6 thousand and $12 thousand for both the three and six months ended June 30, 2026 and 2025, respectively, which is included within general and administrative expenses on the unaudited condensed consolidated statements of operations and comprehensive loss.