Property and Equipment, Net

9 Months Ended

Sep. 30, 2019

Property Plant And Equipment [Abstract]

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:

	As of
	September 30, 2019			December 31, 2018
	(in thousands)
Laboratory equipment	$	10,085		$	9,309
Manufacturing equipment		4,756			—
Computers and purchased software		611			248
Furniture and fixtures		1,386			1,066
Leasehold improvements		30,380			24,520
Assets not yet in service		895			2,602
		48,113			37,745
Less: accumulated depreciation and amortization		(6,707	)		(2,108	)
Total property and equipment, net	$	41,406		$	35,637

Depreciation expense for the three and nine months ended September 30, 2019 was approximately $1.7 million and $4.6 million, respectively, compared to $0.3 million and $0.7 million, respectively, for the three and nine months ended September 30, 2018. There were no disposals of property and equipment during the three and nine months ended September 30, 2019 and 2018. Leasehold improvements consist primarily of costs associated with the buildout of the Company’s research and development, manufacturing and general office space in Bedford, Massachusetts, which the Company occupied as of December 31, 2018. Assets not yet in service consists of manufacturing equipment and furniture that was not yet in service.