Property and equipment, net

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and equipment, net

4. Property and equipment, net

Property and equipment, net consisted of the following:

	As of June 30,			As of December 31,
(in thousands)	2022		2021
Laboratory equipment	$	13,521	$	12,826
Computer equipment and software		1,243		1,128
Furniture and fixtures		826		826
Leasehold improvements		17,382		17,374
Construction in progress		4,323		3,748
		37,295		35,902
Less: Accumulated depreciation and amortization		(12,410)		(10,016)
Total	$	24,885	$	25,886

Depreciation and amortization expense for the three and six months ended June 30, 2022 was $1.2 million and $2.4 million, respectively. Depreciation and amortization expense for the three and six months ended June 30, 2021 was $1.1 million and $2.2 million, respectively.

In July 2021, we entered into a lease agreement to build out a current Good Manufacturing Practice-, or cGMP-, compliant manufacturing facility in Waltham, Massachusetts in order to scale ceDNA manufacturing utilizing RES for clinical and initial commercial supply. Following additional process development of RES, we achieved a significant increase in scale, while maintaining high productivity and ceDNA purity. As a result, we expect an underutilization of our planned cGMP facility. Consequently, we are seeking one or more third parties to assume our lease or sublease the property and, as a result, have recognized an impairment of $5.0 million related to the abandonment of leasehold improvements on our condensed consolidated statements of operations and comprehensive loss during the three and six months ended June 30, 2022. We have performed an impairment assessment on other assets related to this abandonment of leasehold improvements and have concluded that no additional impairment is necessary.