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Balance Sheet Components
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
R&D tax credit receivable
The Company also recorded an Australian tax credit as provided by the Australian Taxation Office for qualified research and development expenditures incurred through its subsidiary, Savara Australia Pty. Limited. Under Australian tax law, Australia remits a research and development tax credit equal to 43.5% of qualified research and development expenditures, not to exceed established thresholds. During the year ended December 31, 2021, the Company generated an Australian tax credit of $0.8 million which was included in prepaid expenses and other current assets on the consolidated balance sheets and the Company received the tax credit in January 2022.
Property and Equipment, Net
The Company's property and equipment, net was comprised of the following (in thousands):
December 31,
20212020
Equipment
$866 $512 
Furniture and fixtures
34 27 
Leasehold improvements
68 43 
Total property and equipment
968 582 
Less: accumulated depreciation
(517)(426)
Property and equipment, net
$451 $156 
Depreciation expense for the years ended December 31, 2021 and 2020 was $0.1 million.
Prepaid and Other Current Assets
Prepaid and other current assets were comprised of the following (in thousands):
December 31,
20212020
Deferred Offering costs$— $1,978 
Prepaid clinical fees168 — 
Business insurance275 — 
Security deposit131 — 
Convertible note receivable— 5,000 
Angion Pty tax863 352 
Other248 360 
Total prepaid and other current assets$1,685 $7,690 
Accrued Expenses
Accrued expenses were comprised of the following (in thousands):
December 31,
20212020
Accrued compensation
$1,274 $3,154 
Accrued direct research costs
1,196 1,321 
Accrued operating expenses
749 707 
Accrued interest— 1,483 
Total accrued expenses
$3,219 $6,665