Property and Equipment

12 Months Ended

Dec. 31, 2017

Property Plant And Equipment [Abstract]

Property and Equipment

3. Property and Equipment

At December 31, 2017 and 2016, Inotek’s property and equipment consisted of the following:

	December 31,
	2017			2016
	(in thousands)
Office equipment	$	357		$	407
Computer hardware and software		96			263
Laboratory equipment		—			446
Leasehold improvements		445			445
Total		898			1,561
Less: accumulated depreciation		(335	)		(431	)
Property and equipment, net	$	563		$	1,130

During the years ended December 31, 2017 and 2016, Inotek recognized $200 and $169 of depreciation expense, respectively, and wrote off $217 of fully depreciated net assets in the year ended December 31, 2017.

In 2017, Inotek voluntarily discontinued its development of trabodenoson and classified its equipment used in the production of trabodenoson as held for sale. Inotek performed an impairment assessment of this equipment by comparing the equipment’s carrying value to its estimated fair value, which was based on prices obtained for similar assets. The analysis resulted in an impairment of Inotek’s laboratory equipment of $437 which was charged to research and development expenses in 2017.