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Property and Equipment
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following:

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Laboratory equipment

 

$

5,857

 

 

$

12,703

 

Manufacturing equipment

 

 

—

 

 

 

7,754

 

Computers and purchased software

 

 

1,596

 

 

 

1,596

 

Furniture and fixtures

 

 

645

 

 

 

1,363

 

Leasehold improvements

 

 

—

 

 

 

29,961

 

Property and equipment, at cost

 

 

8,098

 

 

 

53,377

 

Less accumulated depreciation and amortization

 

 

(5,846

)

 

 

(16,375

)

Property and equipment, net

 

$

2,252

 

 

$

37,002

 

 

Depreciation expense for the years ended December 31, 2021 and 2020 was approximately $8.4 million and $8.0 million, respectively. The Company disposed of $0.1 million and $0.9 million of property and equipment, net during the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, the Company has classified an additional $28.9 million of property and equipment, net in assets held for sale (see Note 17).