Property and Equipment, Net

3 Months Ended

Mar. 31, 2021

Disclosure Text Block

Property and Equipment, Net

8. Property and Equipment, Net

Property and equipment and related accumulated depreciation are as follows (in thousands):

	Estimated
	Useful Life	March 31,		December 31,
	(Years)	2021		2020
Lab equipment	5	$	11,729	$	11,418
Furniture and fixtures	4		3,415		3,420
Computer equipment	3		1,555		1,513
Leasehold improvements	Term of lease		36,944		36,946
Software	3		412		412
Construction-in-progress			232		151
Total cost			54,287		53,860
Less: accumulated depreciation and amortization			(21,296)		(19,731)
Total		$	32,991	$	34,129

Property, plant and equipment are recorded at historical cost, net of accumulated depreciation. For the three months ended March 31, 2021, depreciation expense totaled $1.6 million, compared to $1.6 million for the three months ended March 31, 2020.