Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT, NET (Tables)

v3.22.1
PROPERTY AND EQUIPMENT, NET (Tables)
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
SCHEDULE OF PROPERTY AND EQUIPMENT

Property and equipment are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follow:

 

(in thousands)   Useful lives (years)   March 31,
2022		     December 31,
2021		  
Laboratory equipment   5   $ 9,138     $ 9,081  
Furniture, software and office equipment   3 to 5     1,908       1,896  
Leasehold improvements   Shorter of remaining lease term or useful life     8,603       8,603  
Construction-in-progress         3,252       3,219  
Subtotal         22,901       22,799  
Less: accumulated depreciation         (11,241 )     (10,460 )
Less: construction-in-progress impairment         (3,252 )     -  
Property and equipment, net       $ 8,408     $ 12,339