Property and equipment

12 Months Ended

Dec. 31, 2019

Property and equipment

Property and equipment

4. Property and equipment

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

	As of
	December 31,
	2019		2018
Laboratory and manufacturing equipment	$	5,391	$	4,127
Office furniture and equipment		1,403		789
Computers and software		1,103		786
Leasehold improvements		8,489		244
		16,386		5,946
Less: accumulated depreciation		(4,339)		(3,023)
Total	$	12,047	$	2,923

The Company incurred depreciation expense of $1.6 million and $0.7 million for the years ended December 31, 2019 and 2018, respectively. The Company has instruments included in laboratory and manufacturing equipment, which are used internally by the Company. The laboratory and manufacturing equipment balance includes $2.8 million of cost and $1.2 million of accumulated depreciation related to these instruments.