Balance Sheet Components and Supplemental Disclosures

12 Months Ended

Dec. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components and Supplemental Disclosures

5. Balance Sheet Components and Supplemental Disclosures

Property and Equipment, Net

Property and equipment, net, consisted of the following (in thousands):

	December 31,
	2021			2020
Laboratory equipment	$	4,676		$	4,236
Furniture and office equipment		1,947			1,784
Leasehold improvements		4,581			4,581
Construction-in-progress		37,704			1,325
		48,908			11,926
Less accumulated depreciation		(5,808	)		(3,581	)
Property and equipment, net	$	43,100		$	8,345

Depreciation and amortization expense for the years ended December 31, 2021, 2020 and 2019 was $2.3 million, $1.5 million and $1.5 million, respectively. The increase in construction-in-progress assets in 2021 primarily relate to tenant improvements at the Company’s new corporate headquarters and is expected to be completed and put into service during the first quarter of 2022.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):

	December 31,
	2021		2020
Accrued contract research and development expense	$	16,215	$	4,697
Accrued compensation and benefits expense		3,172		3,214
Current portion of operating lease liabilities		2,316		492
Other current liabilities		4,854		87
Total	$	26,557	$	8,490