Property and Equipment

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following:

	December 31,
	2019			2018
	(in thousands)
Laboratory equipment	$	10,837		$	9,309
Manufacturing equipment		4,911			—
Computers and purchased software		640			248
Furniture and fixtures		1,363			1,066
Leasehold improvements		30,862			24,520
Assets not yet in service		2,513			2,602
Property and equipment, at cost		51,126			37,745
Less accumulated depreciation and amortization		(8,410	)		(2,108	)
Property and equipment, net	$	42,716		$	35,637

Depreciation expense for the years ended December 31, 2019 and 2018 was approximately $6.3 million and $1.3 million, respectively. The Company disposed of $13,000 and approximately $0.1 million of property and equipment, net during the years ended December 31, 2019 and 2018, respectively. 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.