Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

6 Months Ended

Jun. 30, 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 June 30, 2020, and December 31, 2019, property and equipment consists of (in thousands):

	June 30, 2020			December 31, 2019
Lab equipment	$	1,478		$	1,073
Finance lease right-of-use lab equipment obtained in exchange for finance lease liabilities		118			347
Computer and office equipment		120			92
Total property and equipment		1,716			1,512
Less: accumulated depreciation and amortization		(1,056	)		(1,081	)
Property and equipment, net	$	660		$	431

Total depreciation and amortization expense was $36,000 and $68,000 for the three and six months ended June 30, 2020, which includes amortization expense of $15,000 and $32,000 related to finance lease right-of-use lab equipment, respectively. Total depreciation and amortization expense were $22,000 and $45,000 for the three and six months ended June 30, 2019, which includes amortization expense of $18,000 and $35,000 related to finance lease right-of-use lab equipment, respectively. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.