Balance Sheet Components

6 Months Ended

Jun. 30, 2022

Balance Sheet Related Disclosures [Abstract]

Property and Equipment, Net

Property and equipment, net consists of the following:


	June 30, 2022			December 31, 2021
	(In thousands)
Leasehold improvements	$	23,605		$	7,241
Laboratory equipment		19,204			11,891
Manufacturing equipment		17,468			—
Construction in progress		2,426			32,561
Computer equipment and software		964			218
Furniture and fixtures		835			534
Total property and equipment	$	64,502		$	52,445
Less: accumulated depreciation and amortization		(11,489	)		(9,425	)
Total property and equipment, net	$	53,013		$	43,020

Depreciation and amortization expense for the three months ended June 30, 2022 and 2021 was $1.3 million and $0.7 million, respectively. Depreciation and amortization expense for the six months ended June 30, 2022 and 2021 was $2.3 million and $1.4 million, respectively. Leasehold improvements as of June 30, 2022 include certain enhancements made to the Company’s leased manufacturing and office space located in Union City, California (Union City Facility). During the second quarter of 2022, the Company completed the build out and operational launch of its Union City Facility. As a result, the Company reclassified the related capitalized machinery and equipment from construction in progress to manufacturing and laboratory equipment.

Accrued and Other Current Liabilities

Accrued and other current liabilities consist of the following:


	June 30, 2022		December 31, 2021
	(In thousands)
Accrued compensation and related expenses	$	3,486	$	3,667
Accrued property and equipment		2,600		2,863
Accrued research and development expenses		2,301		2,023
Other current liabilities		588		162
Accrued professional services		523		344
Total accrued and other current liabilities	$	9,498	$	9,059

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets include a receivable of approximately $2 million relating to the employee retention credit (ERC) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The ERC is a refundable tax credit, which was provided to encourage businesses to keep employees on the payroll during the COVID-19 pandemic. During the second quarter of 2022, the Company filed a claim for the ERC and recorded the receivable with the offsetting benefit included in operating expenses.