Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

9 Months Ended

Sep. 30, 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 September 30, 2021, and December 31, 2020, property and equipment consists of (in thousands):

Schedule of Property and Equipment

	September 30, 2021			December 31, 2020
Lab equipment	$	1,532		$	1,498
Finance lease right-of-use lab equipment		211			211
Computer and office equipment		131			120
Total property and equipment		1,874			1,829
Less: accumulated depreciation and amortization		(1,381	)		1,238
Property and equipment, net	$	493		$	591

Total depreciation and amortization expense was $47,000 and $142,000 for the three and nine months ended September 30, 2021, which includes amortization expense of $6,000 and $18,000 related to finance lease right-of-use lab equipment, respectively. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.