Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.2
Property and Equipment
9 Months Ended
Sep. 30, 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

    

September 30, 

    

December 31, 

($ in thousands)

Life (in years)

2020

2019

Computer equipment

 

3

$

68

$

53

Furniture and fixtures

 

5

 

182

 

145

Machinery and equipment

 

5

 

5,014

 

4,594

Leasehold improvements

 

9

 

5,099

 

3,877

Construction in process

 

N/A

 

821

 

1,157

Total property and equipment

 

11,184

 

9,826

Less: accumulated depreciation

 

(3,113)

 

(1,890)

Property and equipment, net

$

8,071

$

7,936

Depreciation expense for the three months ended September 30, 2020, and 2019, was approximately $0.4 million and $0.3 million and depreciation expense for the nine months ended September 30, 2020 and 2019, was approximately $1.2 million and $0.9 million, respectively, and was recorded in research and development expense in the Condensed Statements of Operations.