Property and Equipment

12 Months Ended

Dec. 31, 2022

Property and Equipment

Property and Equipment

7.        Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over estimated useful lives ranging generally from three to eight years. Expenditures for maintenance and repairs are charged to expense as incurred.

Property and equipment consisted of the following at:

	December 31,		December 31,
	2022		2021
Lab equipment	$	18,060,058	$	3,178,855
Leasehold improvements		2,486,329		22,563
Construction-in-process		2,053,335		309,620
Computers		502,084		85,071
Furniture and fixtures		245,770		66,106
Vehicles		44,562		—
Total		23,392,138		3,662,215
Accumulated depreciation		(2,953,617)		(1,503,736)
Property and equipment, net	$	20,438,521	$	2,158,479

Depreciation expense totaled $1.8 million and $0.4 million for the years ended December 31, 2022 and 2021, respectively.