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PROPERTY AND EQUIPMENT | 3 Months Ended
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Mar. 31, 2022
PROPERTY AND EQUIPMENT. |
PROPERTY AND EQUIPMENT | NOTE 6: PROPERTY AND EQUIPMENT Property and equipment consist of the following as of March 31, 2022 and December 31, 2021, respectively: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | March 31, | ​ | December 31,
​ |  | Estimated Useful Lives |  | 2022 |  | 2021
Lab and manufacturing equipment | ​ | 5 Years | ​ | $ | 8,460,000 | ​ | $ | 7,851,000
Computers, equipment and software |  | 3-5 Years | ​ | ​ | 1,064,000 | ​ | ​ | 1,020,000
Office furniture |  | 5 Years | ​ |  | 896,000 | ​ |  | 793,000
Leasehold improvements | ​ | Lesser of lease term or estimated useful life | ​ | ​ | 3,173,000 | ​ | ​ | 3,173,000
Total |  |  | ​ | ​ | 13,593,000 | ​ | ​ | 12,837,000
Less: accumulated depreciation |  |  | ​ |  | (3,316,000) | ​ |  | (2,740,000)
Construction in progress | ​ | ​ | ​ | ​ | 4,089,000 | ​ | ​ | 2,226,000
Total fixed assets, net |  |  | ​ | $ | 14,366,000 | ​ | $ | 12,323,000
​ During the third and fourth quarters of 2021, and in connection with the Company’s manufacturing facility in Houston, Texas, the Company incurred $2.2 million of costs pursuant to an agreement with a vendor to build and eventually install a second modular cleanroom. Additionally, during the first quarter of 2022, the Company incurred $1.9 million of costs related to the second modular cleanroom. Such costs were recorded in fixed assets – construction in progress on the balance sheet as of March 31, 2022. Upon completion and installation of the modular cleanroom, all costs associated with the buildout will be recorded as manufacturing equipment and amortized over the estimated useful life. Depreciation expense for the three months ended March 31, 2022 and 2021 was approximately $0.6 million and $0.5 million, respectively. $2.3 million of property and equipment transactions are included in accounts payable and accrued liabilities as of March 31, 2022.

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