Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
 3 Months Ended
Mar. 31, 2020
Property and Equipment  
Property and Equipment

Note 5 - Property and Equipment

Mustang’s property and equipment consisted of the following ($ in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Useful

 

 

March 31, 

 

 

December 31, 

($ in thousands)

    

 Life (in years)

    

 

2020

    

2019

Computer equipment

 

3

 

$

68

 

$

53

Furniture and fixtures

 

5

 

 

182

 

 

145

Machinery and equipment

 

5

 

 

4,643

 

 

4,594

Leasehold improvements

 

9

 

 

5,099

 

 

3,877

Construction in process

 

N/A

 

 

712

 

 

1,157

Total property and equipment

 

  

 

 

10,704

 

 

9,826

Less: accumulated depreciation

 

  

 

 

(2,263)

 

 

(1,890)

Property and equipment, net

 

  

 

$

8,441

 

$

7,936

 

Depreciation expense for the three months ended March 31, 2020 and 2019, was approximately $0.4 million and $0.3 million, respectively, and was recorded in research and development expense in the Condensed Statements of Operations.