Property and Equipment, Net

3 Months Ended

Mar. 31, 2020

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, 2020			December 31, 2019
	(in thousands)
Laboratory equipment	$	11,697		$	10,837
Manufacturing equipment		7,479			4,911
Computers and purchased software		1,215			640
Furniture and fixtures		1,363			1,363
Leasehold improvements		29,961			30,862
Assets not yet in service		1,168			2,513
Property and equipment, at cost		52,883			51,126
Less: accumulated depreciation and amortization		(10,317	)		(8,410	)
Property and equipment, net	$	42,566		$	42,716

Depreciation expense for the three months ended March 31, 2020 was approximately $1.9 million, compared to $1.3 million for the three months ended March 31, 2019. There were no disposals of property and equipment during the three months ended March 31, 2020 and 2019. 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.