Pieris Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

The estimated useful life of the different groups of property and equipment is as follows:


Asset Classification						Estimated useful life (in years)
Leasehold improvements						shorter of useful life or remaining life of the lease
Laboratory furniture and equipment						8 - 14
Office furniture and equipment						5 - 13
Computer and equipment						3 - 7

Property and equipment are summarized as follows (in thousands):


	Years Ended December 31,
	2021		2020
Leasehold improvements	$	13,130	$	14,159
Laboratory equipment	11,354		11,188
Office furniture and equipment	1,959		2,120
Computer equipment	396		394
Property and equipment at cost	26,839		27,861
Accumulated depreciation	(7,717)		(5,815)
Property and equipment, net	$	19,122	$	22,046