Balance Sheet Components

9 Months Ended

Sep. 30, 2022

Balance Sheet Related Disclosures [Abstract]

Property and Equipment, Net

Property and equipment, net consists of the following:


	September 30, 2022		December 31, 2021
	(In thousands)
Computer equipment and software	$	1,325	$	1,224
Laboratory equipment	16,368		12,778
Furniture and fixtures	868		1,136
Leasehold improvements	34,336		26,701
Construction in progress	1,076		4,395
Total property and equipment	53,973		46,234
Less accumulated depreciation and amortization	(17,394)		(13,174)
Property and equipment, net	$	36,579	$	33,060

The Company performed an impairment analysis for certain laboratory equipment assets based on the identification of impairment indicators during the nine months ended September 30, 2022. The analysis determined that the fair value of the assets, which was determined using a market approach, was lower than the carrying value. As a result of the evaluation, an impairment charge of $2.0 million was recognized for the nine months ended September 30, 2022. The assets indicated as impaired were written down to their estimated fair value.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:


	September 30, 2022		December 31, 2021
	(In thousands)
Employee compensation	$	8,604	$	9,209
Accrued nonclinical, clinical and process development costs	6,580		4,953
State income tax payable	301		1,318
Accrued professional services	469		550
Other	585		2,017
Total accrued expenses and other current liabilities	$	16,539	$	18,047