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Other Financial Statement information | 6 Months Ended
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Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Other Financial Statement information | Other Financial Statement information Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands):
| June 30, |  | December 31,
| 2023 |  | 2022
Prepaid expenses (including prepaid rent) | $ | 1,874 |  |  | $ | 1,871 |
Deposits | 1,277 |  |  | 1,418 |
Other | 139 |  |  | 101 |
Total prepaid expenses and other current assets | $ | 3,290 |  |  | $ | 3,390 |
Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
| June 30, |  | December 31,
| 2023 |  | 2022
Leasehold improvements | $ | 46,748 |  |  | $ | 1,869 |
Lab equipment | 13,336 |  |  | 8,265 |
Furniture and fixtures | 583 |  |  | 326 |
Computer equipment and software | 383 |  |  | 389 |
Construction in progress | 2,029 |  |  | 48,273 |
Property and equipment at cost | 63,079 |  |  | 59,122 |
Less: accumulated depreciation | (4,139) |  |  | (2,986) |
Property and equipment, net | $ | 58,940 |  |  | $ | 56,136 |
Buildout of the current good manufacturing practice (cGMP) facility in Alameda was completed in June 2023 and the assets were placed in service. On August 10, 2023, the Company announced a transaction with GeneFab, a new independent contract manufacturing and synthetic biology biofoundry. As part of the transaction the Company subleased it’s cGMP facility in Alameda, CA to GeneFab. Refer to Note 13, Subsequent Events, for further details of the GeneFab transaction. Depreciation totaled $0.8 million and $0.3 million for the three months ended June 30, 2023 and 2022, respectively, and $1.2 million and $0.5 million for the six months ended June 30, 2023 and 2022, respectively. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands):
| June 30, |  | December 31,
| 2023 |  | 2022
Accrued employee-related expenses | $ | 2,099 |  |  | $ | 3,743 |
Accrued professional and service fees related to facility construction | 1,615 |  |  | 7,342 |
Accrued professional and service fees other | 1,245 |  |  | 1,750 |
Other accrued expenses | 32 |  |  | 29 |
Total accrued expenses and other current liabilities | $ | 4,991 |  |  | $ | 12,864 |

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