Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

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, 2020, and December 31, 2019, property and equipment consists of (in thousands):

	March 31, 2020			December 31, 2019
Lab equipment (excluding equipment under finance leases)	$	1,138		$	1,073
Finance lease right-of-use lab equipment obtained in exchange for finance lease liabilities		347			347
Computer and office equipment		120			92
Total property and equipment		1,605			1,512
Less: accumulated depreciation and amortization		(1,111	)		(1,081	)
Property and equipment, net	$	494		$	431

Total depreciation and amortization expense were $30,000 and $23,000 for the three months ended March 31, 2020 and 2019 respectively, which includes amortization expense of $17,000 for both years. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.