Property and Equipment

9 Months Ended

Sep. 30, 2014

5. Property and Equipment

Property and equipment consist of the following, in thousands:

	September 30,			December 31,
	2014			2013
	(unaudited)

Computer equipment	$	858		$	798
Software	225			209
Lab equipment and furniture	5,114			4,809
Leasehold improvements	2,423			2,329
	8,620			8,145
Less accumulated depreciation and amortization	(6,120		)	(5,591		)
	$	2,500		$	2,554

Depreciation expense on property and equipment was approximately $184,000 and $529,000 for the three and nine months ended September 30, 2014, respectively, and $143,000 and $355,000 for the three and nine months ended September 30, 2013, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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