v3.22.1
Property and Equipment
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

3. Property and Equipment

 

Property and equipment are recorded at cost and depreciated over the estimated useful lives of the underlying assets (three to five years) using the straight-line method. As of March 31, 2022, and December 31, 2021, property and equipment consists of (in thousands):

   March 31, 2022   December 31, 2021 
Lab equipment  $1,557   $1,557 
Finance lease right-of-use lab equipment   194    194 
Computer and office equipment   131    131 
Total property and equipment   1,882    1,882 
Less: accumulated depreciation and amortization   (1,475)   (1,429)
Property and equipment, net  $407   $453 

 

Total depreciation and amortization expense were approximately $46,000 and $45,000 for the three months ended March 31, 2022 and 2021 respectively, which includes amortization expense of $4,000 and $6,000 for the three months ended March 31, 2022 and 2021, respectively, related to assets under finance lease. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.