Molecular Templates, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

6 Months Ended

Jun. 30, 2023

Property Plant And Equipment [Abstract]

Property and Equipment

NOTE 7—PROPERTY AND EQUIPMENT

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


	June 30,		December 31,
	2023		2022
Laboratory equipment	$	20,695	$	21,831
Leasehold improvements		12,974		12,971
Furniture and fixtures		518		518
Computer and equipment		658		658
		34,845		35,978
Less: Accumulated depreciation		(24,687)		(21,346)
Total property and equipment, net	$	10,158	$	14,632

Depreciation expense was $2.0 million and $1.9 million for the three months ended June 30, 2023 and 2022, respectively. Depreciation expense was $4.0 million and $3.7 million for the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023 and December 31, 2022, the Company had net Asset Retirement Obligation (“ARO”) assets totaling $0.2 million and $0.3 million, respectively. The ARO assets are included in leasehold improvements.