Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2021

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, 2021, and December 31, 2020, property and equipment consists of (in thousands):

	March 31, 2021		December 31, 2020
Lab equipment (excluding equipment under finance leases)	$	1,517	$	1,498
Finance lease right-of-use lab equipment obtained in exchange for finance lease liabilities, net		86		92
Computer and office equipment		127		120
Total property and equipment		1,730		1,710
Less: accumulated depreciation and amortization		1,159		1,119
Property and equipment, net	$	571	$	591

Total depreciation and amortization expense were approximately $45,000 and $30,000 for the three months ended March 31, 2021 and 2020 respectively, which includes amortization expense of $6,000 and $17,000 for the three months ended March 31, 2021 and 2020 respectively. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.