5. Balance Sheet Components

Cash and Cash Equivalents

Cash and cash equivalents consist of the following:


	September 30, 2017		December 31, 2016
	(in thousands)
Cash	$	778	$	1,964
Cash equivalents:
Money market accounts		107,046		107,043

Total cash and cash equivalents	$	107,824	$	109,007

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:


	September 30, 2017		December 31, 2016
	(in thousands)
Prepaid research and development project costs	$	540	$	515
Prepaid insurance		716		511
Other receivables		96		70
Other		393		247

Total prepaid expenses and other current assets	$	1,745	$	1,343

Property and Equipment, net

Property and equipment, net consists of the following:


	September 30, 2017			December 31, 2016
	(in thousands)
Computer equipment	$	240		$	255
Software		254			242
Leasehold improvements		79			110
Furniture and fixtures		3			45

Property and equipment, gross		576			652
Less: accumulated depreciation		(393	)		(252	)

Total property and equipment, net	$	183		$	400

Depreciation related to the Company’s property and equipment was $0.1 million and $0.2 million for the three and nine months ended September 30, 2017, and was $45,000 and $0.2 million for the three and nine months ended September 30, 2016.

During the nine months ended September 30, 2016, as a result of the decision to halt investment in PNT2258, the Company recorded impairment charges of $0.1 million on its lab equipment (Note 10).

Accrued Liabilities

Accrued liabilities consist of the following:


	September 30, 2017		December 31, 2016
	(in thousands)
Accrued research and development costs	$	3,382	$	1,600
Accrued employee-related costs		1,749		2,084
Accrued professional fees		393		381
Accrued restructuring costs (Note 10)		110		763
Other		198		293

Total accrued liabilities	$	5,832	$	5,121