CAPITAL LEASE PAYABLE

12 Months Ended

Dec. 31, 2014

CAPITAL LEASE PAYABLE

CAPITAL LEASE PAYABLE

8. CAPITAL LEASE PAYABLE

        In February 2011, the Company entered into a capital lease agreement under which the Company leased certain laboratory equipment. Capital lease obligation consisted of the following:

	December 31,
	2014		2013
Capital lease payable	$	—	$	3
Less: current portion		—		(3	)
	$	—	$	—

        The total value of the laboratory equipment acquired under this capital lease agreement was $124 including a down payment of $31. The capital lease is payable in monthly installments of $3 payable over thirty-six months and the final payment was made in January 2014. For the years ended December 31, 2014 and 2013, interest expense recorded on the capital lease was $0 and $1, respectively. For each of the years ended December 31, 2014, 2013 and 2012, depreciation expense on the assets under capital lease was $25. The net book value at December 31, 2014 and 2013 amounted to $27 and $52, respectively.