Property and Equipment, Net

3 Months Ended

Mar. 31, 2019

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:

	As of
	March 31, 2019			December 31, 2018
	(in thousands)
Laboratory equipment	$	10,051		$	9,309
Manufacturing equipment		1,113			—
Computers and purchased software		487			248
Furniture and fixtures		1,236			1,066
Leasehold improvements		29,160			24,520
Assets not yet in service		2,311			2,602
		44,358			37,745
Less: accumulated depreciation and amortization		(3,374	)		(2,108	)
Total property and equipment, net	$	40,984		$	35,637

Depreciation expense for the three months ended March 31, 2019 and 2018 was approximately $1.3 million and $0.2 million, respectively. There were no disposals of property and equipment during the three months ended March 31, 2019 and 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 has occupied as of December 31, 2018. Assets not yet in service consists of manufacturing equipment and furniture purchased for the new space that was not yet in service.