Annual report pursuant to Section 13 and 15(d)

Property and Equipment (Tables)

v3.22.0.1
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2021
Property Plant And Equipment [Abstract]  
Schedule of Property and Equipment

Property and Equipment consist of the following as of December 31, 2021 and 2020 (in thousands):

 

 

 

Estimated useful life

 

 

 

 

 

 

 

 

 

 

(in years)

 

December 31, 2021

 

 

December 31, 2020

 

Construction-in-process

 

-

 

$

—

 

 

$

6

 

Laboratory equipment

 

5

 

 

7,989

 

 

 

7,028

 

Computer equipment

 

3

 

 

1,979

 

 

 

1,841

 

Furniture and fixtures

 

4

 

 

1,075

 

 

 

897

 

Leasehold improvements

 

*

 

 

11,657

 

 

 

11,657

 

 

 

 

 

$

22,700

 

 

$

21,429

 

Less: Accumulated depreciation

 

 

 

 

(9,856

)

 

 

(7,216

)

Total property and equipment, net

 

 

 

$

12,844

 

 

$

14,213

 

*

Leasehold improvements are depreciated over the shorter of the life of the asset and the term of the lease at 8.2 years and 9.3 years as of December 31, 2021 and 2020, respectively. The Company moved into its corporate headquarters in November 2019 and the 2019 Lease term ends in February 2030.