Property and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property and Equipment, Net

Property and Equipment, Net

5.   Property and Equipment, Net

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

	December 31,		December 31,
	2021		2020
Office furniture and equipment	$	232	$	168
Laboratory equipment		1,855		890
Leasehold improvements		628		50
Property and equipment, at cost		2,715		1,108
Less: accumulated depreciation		(886)		(479)
Property and equipment, net	$	1,829	$	629

Depreciation expense for the year ended December 31, 2021 was $420 thousand (December 31, 2020: $208 thousand).