Supplemental Financial Information

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Note 3—Supplemental Financial Information

Property, plant and equipment, net consisted of the following (in thousands):


	December 31, 2022			December 31, 2021
Leasehold improvements	$	2,091		$	2,067
Laboratory equipment		2,868			1,095
Computer equipment		1,115			1,098
Furniture and fixtures		898			845
Construction in progress		9,633			46,004
		16,605			51,109
Accumulated depreciation		(1,642	)		(499	)
Property, plant and equipment, net	$	14,963		$	50,610

In November 2022, the Company recognized a non-cash impairment charge of $36.4 million for the manufacturing facility asset group, of which $26.3 million relates to construction in progress and finance lease right-of-use assets. The impairment charge was estimated using a discounted cash flow model and recorded in the consolidated statements of operations for the year ended December 31, 2022. Included in construction in progress at December 31, 2021 was $45.8 million of costs associated with the Build-to-Suit lease (see Note 4),

which included $2.0 million of capitalized payroll and payroll-related costs. Property, plant and equipment, net includes $1.3 million of assets capitalized as finance leases as of December 31, 2022.

Depreciation expense was $1.2 million and $0.5 million for the years ended December 31, 2022 and 2021, respectively.

Accrued expenses and other current liabilities consisted of the following (in thousands):


	December 31, 2022		December 31, 2021
Accrued research and development	$	8,190	$	11,895
Accrued compensation		2,519		7,703
Accrued property, plant and equipment		2,081		2,644
Accrued clinical trial		1,473		1,659
Accrued severance		1,463		—
Lease liabilities, current portion		1,521		—
Accrued professional and consulting fees		390		1,091
Accrued license fees		—		3,500
Other		650		1,491
Total accrued expenses and other current liabilities	$	18,287	$	29,983

Prepaid expenses and other current assets consisted of the following (in thousands):


	December 31, 2022		December 31, 2021
Prepaid research and development	$	4,840	$	5,218
Prepaid clinical trial		2,119		3,298
Deferred offering costs		724		545
Prepaid insurance		388		148
Prepaid bonus		18		427
Other		448		863
Total prepaid expenses and other current assets	$	8,537	$	10,499