Annual report pursuant to Section 13 and 15(d)

Property and Equipment, net

v3.22.4
Property and Equipment, net
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment, net are as follows:
(in thousands) Estimated Useful Life
(in years)		 December 31, 2022 December 31, 2021
Construction in progress — $ 255  $ 393 
Leasehold improvements Shorter of term of the lease or estimated useful life 2,978  2,978 
Office equipment 5 645  645 
Furniture 7 976  976 
Computer equipment 3 251  262 
5,105  5,254 
Less accumulated depreciation (1,455) (836)
Property and equipment, net $ 3,650  $ 4,418 
Depreciation expense for the years ended December 31, 2022, 2021 and 2020 was $629 thousand, $663 thousand and $82 thousand, respectively, which is included in SG&A expenses on the consolidated statements of operations.