Balance Sheet Components

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Property and Equipment, Net

Property and equipment, net consists of the following:


	December 31,
	2022		2021
	(In thousands)
Computer equipment and software	$	1,325	$	1,224
Laboratory equipment	14,382		12,778
Furniture and fixtures	868		1,136
Leasehold improvements	34,336		26,701
Construction in progress	1,010		4,395
Total property and equipment	51,921		46,234
Less accumulated depreciation and amortization	(16,994)		(13,174)
Property and equipment, net	$	34,927	$	33,060

The Company performed an impairment analysis for certain laboratory equipment assets based on the identification of impairment indicators during the year ended December 31, 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 $2.1 million was recognized for the year ended December 31, 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:


	December 31,
	2022		2021
	(In thousands)
Compensation expense	$	8,710	$	9,209
Accrued professional fees	532		550
Accrued nonclinical costs	1,162		2,895
Accrued clinical and process development costs	5,692		2,058
State taxes payable	254		1,318
Other	417		2,017
Total accrued expenses and other current liabilities	$	16,767	$	18,047