Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
 3 Months Ended
Mar. 31, 2020
Property Plant And Equipment [Abstract]  
Property and Equipment

NOTE 7—PROPERTY AND EQUIPMENT

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

 

 

 

March 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Laboratory equipment

 

$

11,604

 

 

$

10,587

 

Leasehold improvements

 

 

11,212

 

 

 

10,383

 

Furniture and fixtures

 

 

150

 

 

 

150

 

Computer and equipment

 

 

368

 

 

 

331

 

 

 

 

23,334

 

 

 

21,451

 

Less: Accumulated depreciation

 

 

(4,033

)

 

 

(3,293

)

Total property and equipment, net

 

$

19,301

 

 

$

18,158

 

 

Depreciation expense was $0.7 million and $0.4 million for the three months ended March 31, 2020 and March 31, 2019, respectively.

 

In connection with the continued expansion of the Company’s facilities, at March 31, 2020 and December 31, 2019, the Company had net ARO assets totaling $0.9 million and $1.0 million, respectively. The ARO assets are included in Leasehold improvements.