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Property and Equipment, Net
12 Months Ended
Dec. 31, 2019
Property Plant And Equipment [Abstract]  
Property and Equipment, Net

(6)

Property and Equipment, net

Property and equipment, net consists of the following (in thousands):

 

 

 

December 31,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Laboratory equipment

 

$

7,523

 

 

$

7,111

 

Computer and office equipment

 

 

782

 

 

 

781

 

Furniture and fixtures

 

 

421

 

 

 

413

 

Leasehold improvements

 

 

9,514

 

 

 

9,484

 

Construction in progress

 

 

412

 

 

 

39

 

 

 

 

18,652

 

 

 

17,828

 

Less accumulated depreciation

 

 

(5,631

)

 

 

(2,987

)

 

 

$

13,021

 

 

$

14,841

 

 

At December 31, 2019 and 2018, leasehold improvements include $6.6 million of lessor-paid tenant improvements for which the Company was deemed to be the accounting owner of the tenant improvements primarily because it was responsible for project cost overruns. Depreciation expense on property and equipment was $2.7 million and $2.4 million in 2019 and 2018, respectively.