Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

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.