Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 6. Property and equipment

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

	December 31, 2022			December 31, 2021
Lab and office equipment under and financing    right-of-use asset	$	5,475		$	3,969
Lab equipment		4,383			2,805
Computer equipment		357			273
Furniture & fixtures		1,064			943
Leasehold improvements		7,802			7,741
Assets not yet in service		1,146			66
Total property and equipment		20,227			15,797
Less accumulated depreciation		(6,893	)		(3,916	)
Property and equipment, net	$	13,334		$	11,881

Depreciation expense for the years ended December 31, 2022, 2021 and 2020 was $3.0 million, $2.4 million and $1.8 million, respectively.

Included in property and equipment is lab and office equipment right-of-use assets under financing leases with a cost basis of $5.5 million and $4.0 million and accumulated amortization expense of $2.7 million and $1.5 million as of December 31, 2022 and 2021, respectively.

Amortization expense related to right-of-use assets was $1.2 million, $0.9 million and $0.7 million the years ended December 31, 2022, 2021 and 2020 and is included in depreciation expense.