Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2022

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, 2022, and December 31, 2021, property and equipment consists of (in thousands):

Schedule of Property and Equipment

	March 31, 2022			December 31, 2021
Lab equipment	$	1,557		$	1,557
Finance lease right-of-use lab equipment		194			194
Computer and office equipment		131			131
Total property and equipment		1,882			1,882
Less: accumulated depreciation and amortization		(1,475	)		(1,429	)
Property and equipment, net	$	407		$	453

Total depreciation and amortization expense were approximately $46,000 and $45,000 for the three months ended March 31, 2022 and 2021 respectively, which includes amortization expense of $4,000 and $6,000 for the three months ended March 31, 2022 and 2021, respectively, related to assets under finance lease. For additional finance leases information, refer to Note 9 – Commitments and Contingencies.