Property and Equipment

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

6. Property and Equipment

Property and equipment consists of the following as of March 31, 2022 and December 31, 2021 (in thousands):


	March 31, 2022			December 31, 2021
Lab and office equipment under finance right-of-use asset	$	3,969		$	3,969
Lab equipment		3,034			2,805
Computer equipment		298			273
Furniture & fixtures		1,063			943
Leasehold improvements		7,741			7,741
Assets not yet in service		256			66
Total property and equipment		16,361			15,797
Less accumulated depreciation		(4,602	)		(3,916	)
Property and equipment, net	$	11,759		$	11,881

Depreciation expense for the three months ended March 31, 2022 and 2021 was $0.7 million and $0.5 million, respectively.

Included in property and equipment is lab and office equipment right-of-use assets under finance leases with a cost basis of $4.0 million and $4.0 million and accumulated amortization expense of $1.8 million and $1.5 million as of March 31, 2022 and December 31, 2021, respectively.

Amortization expense related to right-of-use assets during the three months ended March 31, 2022 and 2021 was $0.3 million and $0.2 million, respectively.