Balance Sheet Components

3 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Note 3—Balance Sheet Components

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

	March 31, 2022		December 31, 2021
Prepaid research and development	$	5,793	$	5,218
Prepaid clinical trial		2,705		3,298
Deferred offering costs		566		545
Prepaid bonus		136		427
Prepaid insurance		120		148
Other		941		863
Total prepaid expenses and other current assets	$	10,261	$	10,499

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

	March 31, 2022			December 31, 2021
Leasehold improvements	$	2,055		$	2,067
Laboratory equipment		1,262			1,095
Computer equipment		1,149			1,098
Furniture and fixtures		881			845
Construction in progress		50,527			46,004
		55,874			51,109
Accumulated depreciation		(754	)		(499	)
Property, plant and equipment, net	$	55,120		$	50,610

Included in construction in progress at March 31, 2022 was $50.4 million of costs associated with the Build-to-Suit lease (see Note 9), which includes $3.0 million of capitalized payroll and payroll-related costs.

Depreciation expense was $0.3 million for the three months ended March 31, 2022 and less than $0.1 million for the three months ended March 31, 2021.

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

	March 31, 2022		December 31, 2021
Accrued research and development	$	15,080	$	11,895
Accrued severance		2,273		—
Accrued compensation		2,182		7,703
Accrued license fees		1,750		3,500
Accrued property plant and equipment		1,501		2,644
Accrued professional and consulting fees		1,281		1,091
Accrued clinical trial		967		1,659
Other		1,586		1,491
Total accrued expenses and other current liabilities	$	26,620	$	29,983