Balance Sheets Details

9 Months Ended

Sep. 30, 2021

Balance Sheets Details [Abstract]

Balance Sheets Details

Balance Sheets Details

Cash Equivalents

Cash equivalents as of September 30, 2021 and December 31, 2020, consisted of the following (in thousands):

	September 30, 2021				December 31, 2020
	Adjusted Cost		Estimated Fair Value		Adjusted Cost		Estimated Fair Value
Money market funds (1)	$	95,089	$	95,089	$	127,567	$	127,567

(1) Money market funds are classified in cash and cash equivalents on our consolidated balance sheets. Average Contractual Maturities (in days) is not applicable.

As of September 30, 2021, the total cash and cash equivalents balance of $119.2 million was comprised of money market funds of $95.1 million and cash of $24.1 million held with major financial institutions. As of December 31, 2020, the total cash and cash equivalents balance of $149.1 million was comprised of money market funds of $127.6 million and cash of $21.5 million held with major financial institutions.

Inventories

Inventories consisted of the following (in thousands):

	September 30, 2021		December 31, 2020
Raw materials	$	49	$	77
Work-in-process	77		82
Finished goods	958		805
Inventories	$	1,084	$	964

Inventories are recorded net of reserves of $1.5 million as of September 30, 2021 and December 31, 2020.

Property and Equipment, net

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

	September 30, 2021		December 31, 2020
Laboratory equipment	$	29,103	$	25,468
Leasehold improvements	10,785		10,785
Computer equipment and software	3,313		3,192
Office equipment and furniture	1,247		1,246
Construction in progress	6,678		2,357
Property and equipment	51,126		43,048
Less: accumulated depreciation and amortization	(35,002)		(33,373)
Property and equipment, net	$	16,124	$	9,675

Depreciation expense included in the Unaudited Condensed Consolidated Statements of Operations was follows (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Depreciation Expense	$	768	$	503	$	2,143	$	1,403

Goodwill

Goodwill had a carrying value of $3.2 million as of September 30, 2021 and December 31, 2020.

Other Accrued Liabilities

Other accrued liabilities consisted of the following (in thousands):

	September 30, 2021		December 31, 2020
Accrued purchases	$	9,050	$	7,170
Accrued professional and outside service fees	5,936		2,589
Other	941		513
Total	$	15,927	$	10,272