Annual report pursuant to Section 13 and 15(d)

Leasehold Improvements and Equipment

v3.21.1
Leasehold Improvements and Equipment
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Leasehold Improvements and Equipment

Note 6 – Leasehold Improvements and Equipment

 

Leasehold improvements and equipment, summarized by major category, consist of the following for the years ended December 31, 2020 and 2019 (in thousands):

 

    December 30,
2020		     December 31,
2019		  
Lab equipment   $ 1,443     $ 1,437  
Leasehold improvements     878       878  
Total     2,321       2,315  
Less: accumulated depreciation and amortization     797       566  
Leasehold improvements and equipment, net   $ 1,524     $ 1,749  

 

Depreciation and amortization expense for the years ended December 31, 2020 and 2019 was approximately $231.1 thousand and $206.0 thousand, respectively. Due to the adoption of the new lease accounting pronouncement in January 2019 and the reclass of certain right-of-use assets upon adoption, the Company reclassed $559 thousand and $72 thousand of assets and related accumulated depreciation, respectively. In addition, in July 2019, the Company recorded an asset write-off of approximately $14 thousand, including $7 thousand of related accumulated depreciation.