Annual report pursuant to Section 13 and 15(d)

Property, Plant, and Equipment

v3.20.4
Property, Plant, and Equipment
12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure Property, Plant and Equipment
Property, plant and equipment as of December 31, 2020 and 2019 are as follows:
(in thousands) Estimated Useful Life
(in years)
2020 2019
Construction in progress $ 4,467  $ — 
Leasehold improvements Shorter of term of the lease or estimated useful life 34  34 
Office equipment and furniture 5 83  41 
Computer equipment and software 3 381  175 
4,965  250 
Less accumulated depreciation (179) (157)
Property and equipment, net $ 4,786  $ 93 
Construction in progress assets relate to leasehold improvements and office equipment and furniture for the Company's Rockville, MD office, which are not available for use at December 31, 2020.
Depreciation expense for the years ended December 31, 2020, 2019 and 2018, was $82 thousand, $33 thousand and $20 thousand, respectively, which is included in general and administrative within operating expenses on the consolidated statements of operations.