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FIXED ASSETS

4 Months Ended

Dec. 31, 2012

(4)	FIXED ASSETS

Fixed assets consisted of the following:

	December 31,			August 31,
Category	2012			2012			2011			Estimated useful lives
Leasehold improvements	$	146		$	146		$	125		Shorter of life of asset or lease term
Office furniture		35			3			3		7 years
Laboratory equipment		593			569			285		5 years
Computer hardware and software		204			205			131		3 years
Capital lease equipment		27			26			14		Shorter of life of asset or lease term
Total at cost		1,005			949			558
Less: accumulated depreciation		(589	)		(546	)		(481	)
Total fixed assets, net	$	416		$	403		$	77

Depreciation expense for the four months ended December 31, 2012, the years ended August 31, 2012, 2011 and 2010 and the cumulative period from September 8, 2005 (inception) to December 31, 2012 was $42, $65, $78, $72 and $608, respectively. Accumulated depreciation on capital lease equipment was $8, $6 and negligible as of December 31, 2012, August 31, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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