Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.2
Property and Equipment
 9 Months Ended
Sep. 30, 2020
Property Plant And Equipment [Abstract]  
Property and Equipment

NOTE 7—PROPERTY AND EQUIPMENT

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

 

 

 

September 30,

2020

 

 

December 31,

2019

 

Laboratory equipment

 

$

13,945

 

 

$

10,587

 

Leasehold improvements

 

 

12,260

 

 

 

10,383

 

Furniture and fixtures

 

 

150

 

 

 

150

 

Computer and equipment

 

 

549

 

 

 

331

 

 

 

 

26,904

 

 

 

21,451

 

Less: Accumulated depreciation

 

 

(6,015

)

 

 

(3,293

)

Total property and equipment, net

 

$

20,889

 

 

$

18,158

 

 

Depreciation expense was $1.2 million and $0.5 million for the three months ended September 30, 2020 and September 30, 2019, respectively and $2.7 million and $1.3 million for the nine months ended September 30, 2020 and September 30, 2019, respectively.

 

In connection with the continued expansion of the Company’s facilities, the Company had at September 30, 2020 and December 31, 2019, net ARO assets totaling $0.8 million and $1.0 million, respectively. The ARO assets are included in leasehold improvements.