Graphite Bio, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Balance Sheet Components

5. Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets as of June 30, 2023 and December 31, 2022 consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Advances to suppliers	$	39	$	2,486
Prepaid insurance		19		1,343
Other prepaid expenses		2,820		3,307
Total prepaid expenses and other current assets	$	2,878	$	7,136

Property and Equipment, Net

Property and equipment, net as of June 30, 2023 and December 31, 2022 consisted of the following (in thousands):


	June 30, 2023			December 31, 2022
Furniture and fixtures	$	1,283		$	321
Computers and network equipment		251			251
Lab equipment		8,034			12,521
Leasehold improvements		11,427			304
Construction-in-progress		245			12,440
Total property and equipment		21,240			25,837
Less: accumulated depreciation		(3,275	)		(3,207	)
Total property and equipment, net		17,965			22,630

Depreciation expense for the three and six months ended June 30, 2023 was $0.8 million and $1.5 million, respectively. Depreciation expense for the three and six months ended June 30, 2022 was $0.6 million and $1.0 million, respectively.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities as of June 30, 2023 and December 31, 2022 consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Professional fees	$	234	$	367
Early exercise liability		55		150
Other accrued expenses		3,063		1,354
Accrued employee termination benefits		439		—
Total accrued expenses and other current liabilities	$	3,791	$	1,871