Property and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property Plant And Equipment [Abstract]

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:

	As of
	September 30, 2020			December 31, 2019
	(in thousands)
Laboratory equipment	$	11,991		$	10,837
Manufacturing equipment		7,754			4,911
Computers and purchased software		1,596			640
Furniture and fixtures		1,363			1,363
Leasehold improvements		29,960			30,862
Assets not yet in service		1,339			2,513
Property and equipment, at cost		54,003			51,126
Less: accumulated depreciation and amortization		(14,319	)		(8,410	)
Property and equipment, net	$	39,684		$	42,716

Depreciation expense for the three and nine months ended September 30, 2020 was approximately $2.0 million and $5.9 million, respectively, compared to $1.7 million and $4.6 million, respectively for the three and nine months ended September 30, 2019. There were no disposals of property and equipment during the three and nine months ended September 30, 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.