Property and Equipment, Net

12 Months Ended

Dec. 31, 2022

Disclosure Text Block

Property and Equipment, Net

10. Property and Equipment, Net

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

	Estimated
	Useful Life	As of December 31,
	(Years)	2022		2021
Lab equipment	5	$	15,726	$	13,120
Furniture and fixtures	4		4,106		3,714
Computer equipment	3		1,484		1,714
Leasehold improvements	Term of lease		41,046		36,945
Software	3		657		412
Construction-in-progress			1,607		213
Total cost			64,626		56,118
Less: accumulated depreciation and amortization			(31,282)		(25,418)
Total		$	33,344	$	30,700

Property, plant and equipment are recorded at historical cost, net of accumulated depreciation. Depreciation expense for the years ended December 31, 2022, 2021 and 2020 was $6.5 million, $6.5 million and $6.6 million, respectively.