5. Balance Sheet Components

Cash and Cash Equivalents

Cash and cash equivalents consist of the following:


	September 30, 2016		December 31, 2015
	(in thousands)
Cash	$	1,720	$	1,576
Cash equivalents:
Money market accounts		120,962		148,604

Total cash and cash equivalents	$	122,682	$	150,180

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:


	September 30, 2016		December 31, 2015
	(in thousands)
Prepaid research and development project costs	$	184	$	878
Prepaid insurance		774		480
Other receivables		453		44
Other		411		271

Total prepaid expenses and other current assets	$	1,822	$	1,673

Property and Equipment, net

Property and equipment, net consists of the following:


	September 30, 2016			December 31, 2015
	(in thousands)
Computer equipment	$	258		$	242
Software		151			126
Lab equipment		—			236
Leasehold improvements		110			79
Furniture and fixtures		47			5

Property and equipment, gross		566			688
Less: accumulated depreciation		(209	)		(122	)

Total property and equipment, net	$	357		$	566

Depreciation and amortization related to the Company’s property and equipment was $45,000 and $0.2 million for the three and nine months ended September 30, 2016 and was $32,000 and $0.1 million for the three and nine months ended September 30, 2015.

During the nine months ended September 30, 2016, as a result of the decision to halt investment in PNT2258 and the DNAi platform, the Company recorded impairment charges of $0.1 million on its lab equipment (note 12).

Accrued Liabilities

Accrued liabilities consist of the following:


	September 30, 2016		December 31, 2015
	(in thousands)
Accrued license fee (note 6)	$	9,000	$	—
Accrued employee-related costs		1,698		1,529
Accrued restructuring costs (note 12)		1,475		—
Accrued research and development costs		1,282		4,318
Accrued professional fees		324		933
Other		179		236

Total accrued liabilities	$	13,958	$	7,016