Balance Sheet Components

9 Months Ended

Sep. 30, 2022

Balance Sheet Related Disclosures [Abstract]

Note 3—Balance Sheet Components

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

	September 30, 2022		December 31, 2021
Prepaid research and development	$	5,182	$	5,218
Prepaid clinical trial		2,284		3,298
Deferred offering costs		722		545
Prepaid insurance		74		148
Prepaid bonus		54		427
Other		380		863
Total prepaid expenses and other current assets	$	8,696	$	10,499

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

	September 30, 2022			December 31, 2021
Leasehold improvements	$	2,091		$	2,067
Laboratory equipment		2,069			1,095
Computer equipment		1,127			1,098
Furniture and fixtures		897			845
Construction in progress		59,058			46,004
		65,242			51,109
Accumulated depreciation		(1,288	)		(499	)
Property, plant and equipment, net	$	63,954		$	50,610

Included in construction in progress at September 30, 2022 was $59.0 million of costs associated with the Build-to-Suit lease (see Note 9), which includes $3.1 million of capitalized payroll and payroll-related costs.

Depreciation expense was $0.3 million and $0.8 million for the three and nine months ended September 30, 2022, respectively. Depreciation expense was $0.2 million and $0.3 million for the three and nine months ended September 30, 2021, respectively.

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

	September 30, 2022		December 31, 2021
Accrued research and development	$	8,027	$	11,895
Accrued compensation		4,914		7,703
Accrued license fees		—		3,500
Accrued property, plant and equipment		1,655		2,644
Accrued clinical trial		889		1,659
Accrued professional and consulting fees		823		1,091
Other		1,580		1,491
Total accrued expenses and other current liabilities	$	17,888	$	29,983