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Property and Equipment, Net
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

5. Property and equipment, net

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

 

 

 

June 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Lab equipment

 

$

9,454

 

 

$

8,707

 

Leasehold improvements

 

 

9,311

 

 

 

8,929

 

Office equipment and computers

 

 

1,717

 

 

 

1,577

 

Fixtures and fittings

 

 

1,078

 

 

 

1,040

 

 

 

21,560

 

 

 

20,253

 

Less: Accumulated depreciation

 

 

(10,611

)

 

 

(7,854

)

 

$

10,949

 

 

$

12,399

 

 

Depreciation expense was $2.4 million and $2.0 million for the six months ended June 30, 2023 and 2022, respectively. Depreciation expense was $1.3 million and $0.9 million for the three months ended June 30, 2023 and 2022, respectively. For the year ended December 31, 2022, the Company recognized an impairment loss of $6.7 million in assets under construction primarily related to costs associated with the detailed design of a flexible GMP modular facility in west London. Due to challenging economic and market conditions, the Company has mothballed the construction of the facility and project.