Property and Equipment

3 Months Ended

Mar. 31, 2021

Property Plant And Equipment [Abstract]

6. Property and Equipment

Property and equipment consists of the following as of March 31, 2021 and December 31, 2020 (in thousands):

	March 31, 2021			December 31, 2020
Lab and office equipment under finance right-of-use asset	$	2,771		$	2,771
Lab equipment		1,807			1,636
Computer equipment		114			89
Furniture & fixtures		870			861
Leasehold improvements		7,599			7,599
Assets not yet in service		216			32
Total property and equipment		13,377			12,988
Less accumulated depreciation		(2,625	)		(2,147	)
Property and equipment, net	$	10,752		$	10,841

Depreciation expense for the three months ended March 31, 2021 and 2020 was $0.5 million and $0.4 million, respectively.

Included in property and equipment is lab and office equipment right-of-use assets under finance leases with a cost basis of $2.8 million as of March 31, 2021 and December 31, 2020 and accumulated amortization expense of $1.4 million and $1.2 million, respectively.

Amortization expense related to right-of-use assets was $0.2 million during both the three months ended March 31, 2021 and 2020.