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Property and Equipment, Net | 6 Months Ended
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Jun. 30, 2022
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | . Property and Equipment, net Property and equipment, net consisted of the following (in thousands):
|  | Useful life (in years) |  | June 30, 2022 |  |  | December 31, 2021 |
Laboratory equipment |  | 3 |  | $ | 5,990 |  |  | $ | 5,502 |
Leasehold improvements |  | Lesser of useful life or lease term |  |  | 17,852 |  |  |  | 1,614 |
Furniture and fixtures |  | 3 |  |  | 375 |  |  |  | 303 |
Construction in progress |  | — |  |  | 5,497 |  |  |  | 13,014 |
Computer equipment |  | 3 |  |  | 166 |  |  |  | 216 |
Software |  | 3 |  |  | 328 |  |  |  | 320 |
|  |  |  |  | 30,208 |  |  |  | 20,969 |
Less: Accumulated depreciation and amortization |  |  |  |  | (7,041 | ) |  |  | (6,326 | )
Property and equipment, net |  |  |  | $ | 23,167 |  |  | $ | 14,643 |
Depreciation and amortization expense was $0.4 million and $0.5 million for the three months ended June 30, 2022 and 2021, respectively. Depreciation and amortization expense was $0.8 million and $0.8 million for the six months ended June 30, 2022 and 2021, respectively. Construction in progress has increased by $2.9 million during the three months ended June 30, 2022, compared to the three months ended June 30, 2021, due to building construction related to the Company's leased space in Redwood City, California. Construction in process is expected to continue to increase until completion of the construction in the third quarter of 2022. On March 18, 2022, the Company's wholly-owned subsidiary Adicet Therapeutics entered into Change Order No. 3 (the Change Order No. 3) to a construction agreement between Adicet Therapeutics and CP Enterprises, Inc. d/b/a CP Construction (CP Construction) (the Construction Agreement). The Construction Agreement provides for pre-construction and construction services at the Company's office and laboratory space in Redwood City, California (1000 Bridge Parkway) for consideration of approximately $13.8 million to CP Construction, including previous change orders. The Change Order No. 3 increased the budget for the construction by approximately $5.3 million in order to build one good manufacturing practice (GMP) cell processing and one vector manufacturing suite in addition to controlled materials warehousing at 1000 Bridge Parkway. In June 2022, the Company moved its operations to 1000 Bridge Parkway which resulted in reclassifying $16.2 million from Construction in progress to Leasehold improvements for the three months ended June 30, 2022.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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