Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.20.1
Property and Equipment
 12 Months Ended
Dec. 31, 2019
Property Plant And Equipment [Abstract]  
Property and Equipment

NOTE 5—PROPERTY AND EQUIPMENT

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

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

Laboratory equipment

 

$

10,587

 

 

$

4,676

 

Leasehold improvements

 

 

10,383

 

 

 

3,274

 

Furniture and fixtures

 

 

150

 

 

 

89

 

Computer and equipment

 

 

331

 

 

 

145

 

 

 

 

21,451

 

 

 

8,184

 

Less: Accumulated depreciation

 

 

(3,293

)

 

 

(1,333

)

Total property and equipment, net

 

$

18,158

 

 

$

6,851

 

 

Depreciation expense was $2.0 million and $1.0 million for the years ended December 31, 2019 and 2018, respectively.

 

In connection with the continued expansion of the Company’s facilities, at December 31, 2019 and 2018, the Company had net ARO assets totaling $1.0 million and $0.1 million, respectively. The ARO assets are included in Leasehold improvements.