Balance Sheet Components

3 Months Ended

Mar. 31, 2019

4. Balance Sheet Components

Property and Equipment, Net

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

	March 31,			December 31,
	2019			2018
Leasehold improvements	$	26,957		$	26,961
Lab equipment		8,317			8,281
Computer and office equipment		2,311			2,292
Furniture		1,581			1,560
Construction in progress		1,480			1,458
Total property and equipment		40,646			40,552
Less: accumulated depreciation		(12,477	)		(11,395	)
Property and equipment, net	$	28,169		$	29,157

Depreciation expense was $1.1 million in each of the three months ended March 31, 2019 and 2018, respectively.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following (in thousands):

	March 31,		December 31,
	2019		2018
Compensation and related benefits	$	2,956	$	4,619
Professional and consulting services		2,268		2,185
Accrued research expense		2,078		1,859
Deferred rent		—		653
Accrued property and equipment		41		101
Other		706		1,101
Total accrued expenses and other liabilities	$	8,049	$	10,518