Balance Sheet Components

3 Months Ended

Mar. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

4. Balance Sheet Components

Property and Equipment, net

Property and equipment, net, consists of the following:

	March 31,			December 31,
	2020			2019
	(in thousands)
Computer hardware and software	$	2,823		$	2,830
Furniture and equipment		1,834			1,828
Leasehold improvements		9,195			8,967
		13,852			13,625
Less: Accumulated depreciation		(5,168	)		(4,499	)
	$	8,684		$	9,126

Depreciation expense for the three months ended March 31, 2020 and 2019 was $0.7 million and $0.4 million, respectively.

The useful life for computer hardware and software is three years, furniture and equipment is five years and leasehold improvements is the lesser of the useful life or the term of the respective lease.

Accrued Expenses

Accrued expenses consist of the following:

	March 31,		December 31,
	2020		2019
	(in thousands)
Accrued research and development costs	$	36,035	$	46,940
Employee-related expenses		7,203		22,011
Professional services		7,789		16,720
Other		1,153		947
	$	52,180	$	86,618