5.	Balance Sheet Components

Cash and Cash Equivalents

Cash and cash equivalents consist of the following:


	March 31, 2017		December 31, 2016
	(in thousands)
Cash	$	1,629	$	1,964
Cash equivalents:
Money market accounts		123,396		107,043

Total cash and cash equivalents	$	125,025	$	109,007

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:


	March 31, 2017		December 31, 2016
	(in thousands)
Prepaid research and development project costs	$	116	$	515
Prepaid insurance		261		511
Other receivables		57		70
Other		341		247

Total prepaid expenses and other current assets	$	775	$	1,343

Property and Equipment, net

Property and equipment, net consists of the following:


	March 31, 2017			December 31, 2016
	(in thousands)
Computer equipment	$	255		$	255
Software		242			242
Leasehold improvements		110			110
Furniture and fixtures		45			45

Property and equipment, gross		652			652
Less: accumulated depreciation		(305	)		(252	)

Total property and equipment, net	$	347		$	400

Depreciation related to the Company’s property and equipment was $53,000 and $52,000 for the three months ended March 31, 2017 and 2016, respectively.

Accrued Liabilities

Accrued liabilities consist of the following:


	March 31, 2017		December 31, 2016
	(in thousands)
Accrued employee-related costs	$	729	$	2,084
Accrued restructuring costs (note 10)		495		763
Accrued research and development costs		2,462		1,600
Accrued professional fees		278		381
Other		158		293

Total accrued liabilities	$	4,122	$	5,121