Property and Equipment, Net

9 Months Ended

Sep. 30, 2018

Property Plant And Equipment [Abstract]

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net at September 30, 2018 and December 31, 2017 consists of the following:

	As of
	September 30, 2018			December 31, 2017
Laboratory equipment	$	5,387,627		$	3,713,912
Computers and purchased software		272,842			252,436
Furniture and fixtures		51,379			51,379
Leasehold improvements		15,127,129			34,120
Assets not yet in service		1,525,008			—
		22,363,985			4,051,847
Less: Accumulated depreciation		(1,623,467	)		(897,642	)
Property and equipment, net	$	20,740,518		$	3,154,205

Depreciation expense for the three and nine months ended September 30, 2018 was approximately $0.3 million and $0.7 million, respectively, compared to $0.2 million and $0.5 million for the same periods in the prior year. No property and equipment was disposed of during the nine months ended September 30, 2018. Leasehold improvements consist primarily of costs associated with the buildout of the Company’s new research and development, manufacturing and general office space in Bedford, Massachusetts, which the Company partially occupied, commencing in October 2018. Assets not yet in service consists of equipment and furniture purchased for the new space that was not in service as of September 30, 2018.