Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Property, Plant and Equipment Property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives:
Office equipment and furniture 5 years
Computer equipment and software 3 years
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.