Balance Sheet Components

12 Months Ended

Dec. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

4. Balance Sheet Components

Property and Equipment, net

Property and equipment, net consists of the following:

	December 31,			December 31,
	2021			2020
	(in thousands)
Computer hardware and software	$	1,391		$	2,758
Furniture and equipment		1,208			1,865
Leasehold improvements		5,390			9,220
		7,989			13,843
Less: Accumulated depreciation		(4,973	)		(7,088	)
	$	3,016		$	6,755

Depreciation expense for the years ended December 31, 2021, 2020 and 2019 was $4.2 million, $2.6 million and $2.3 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:

	December 31,		December 31,
	2021		2020
	(in thousands)
Accrued research and development costs	$	39,147	$	34,398
Employee-related		18,618		14,769
Professional services		8,893		5,184
Other		617		500
	$	67,275	$	54,851