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Balance Sheet Components | 9 Months Ended
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Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components |
8. | Balance Sheet Components
Property and Equipment, net Property and equipment, net consists of the following:
|  | September 30, 2020 |  |  | December 31, 2019 |
|  | (in thousands) |
Laboratory equipment |  | $ | 14,174 |  |  | $ | 11,986 |
Computer equipment |  |  | 556 |  |  |  | 540 |
Furniture and fixtures |  |  | 1,444 |  |  |  | 1,351 |
Leasehold improvements |  |  | 7,274 |  |  |  | 7,121 |
Construction in progress |  |  | 1,517 |  |  |  | 142 |
Property and equipment, gross |  |  | 24,965 |  |  |  | 21,140 |
Less accumulated depreciation and amortization |  |  | (8,017 | ) |  |  | (4,832 | )
Total property and equipment, net |  | $ | 16,948 |  |  | $ | 16,308 |
Depreciation and amortization expenses was $1.1 million and $3.2 million for the three and nine months ended September 30, 2020, respectively, and $0.9 million and $2.4 million for the three and nine months ended September 30, 2019, respectively. Sale-Leaseback Transaction In August 2019, the Company entered into a lease agreement whereby the Company sold various laboratory instruments, furniture, and other equipment for gross proceeds of $1.2 million to a bank and leased them back for a five-year term, collateralized by the underlying equipment. The Company determined it did not relinquish control of the assets to the buyer-lessor. Therefore, the Company accounted for the transaction as a failed sale-leaseback whereby the Company continues to depreciate the assets and recorded a financing obligation for the consideration received from the buyer-lessor. As of September 30, 2020, the current and long-term portions of the financing obligation were $0.3 million and $0.7 million, respectively. Accrued and Other Liabilities Accrued and other liabilities consist of the following:
|  | September 30, 2020 |  |  | December 31, 2019 |
|  | (in thousands) |
Research and development expenses |  | $ | 23,227 |  |  | $ | 12,530 |
Payroll and related expenses |  |  | 9,607 |  |  |  | 9,410 |
Excess funds payable under grant agreements |  |  | 3,893 |  |  |  | 94 |
Operating lease liabilities, current |  |  | 3,459 |  |  |  | — |
Restricted stock liability |  |  | 119 |  |  |  | 1,434 |
Financing lease obligation, current |  |  | 253 |  |  |  | 237 |
Other professional and consulting expenses |  |  | 2,894 |  |  |  | 1,634 |
Other accrued expenses |  |  | 887 |  |  |  | 1,156 |
Total accrued and other liabilities |  | $ | 44,339 |  |  | $ | 26,495 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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