Property and Equipment, Net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

5. Property and Equipment, net

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


	Useful life (in years)	September 30, 2023			December 31, 2022
Laboratory equipment	3	$	12,863		$	7,503
Leasehold improvements	Lesser of useful life or lease term		26,617			19,959
Furniture and fixtures	3		951			184
Construction in progress	—		473			9,292
Computer equipment	3		178			172
Software	3		353			353
			41,435			37,463
Less: Accumulated depreciation and amortization			(13,162	)		(8,753	)
Property and equipment, net		$	28,273		$	28,710

Depreciation and amortization expense was $1.6 million and $0.8 million for the three months ended September 30, 2023 and 2022, respectively. Depreciation and amortization expense was $4.4 million and $1.5 million for the nine months ended September 30, 2023 and 2022, respectively. The increase in expense is primarily due to the completion and subsequent depreciation of the Company's good manufacturing practice (GMP) cell processing and vector manufacturing suite at the Company's office in Redwood City, California (1000 Bridge Parkway) which was completed in February 2023.

Construction in progress has decreased by $8.8 million during the nine months ended September 30, 2023, compared to the balance at December 31, 2022, due to the Company's completion of the Company's GMP cell processing and vector manufacturing suite in February 2023. The remaining $0.5 million in construction in progress as of September 30, 2023 is primarily related to lab and computer equipment not yet placed into service.