CAPITAL LEASE PAYABLE

3 Months Ended

Mar. 31, 2014

CAPITAL LEASE PAYABLE

CAPITAL LEASE PAYABLE

6. 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:

(In thousands)	March 31, 2014		December 31, 2013
Capital lease payable	$	—	$	3
Less: current portion	—		(3		)
Capital lease payable, net of current portion	$	—	$	—

The total value of the laboratory equipment acquired under this capital lease agreement was $124,000, including a down payment of $31,000. The capital lease was payable in monthly installments of $3,000 over a thirty-six month period, with the final payment made in January 2014.