Property and Equipment

3 Months Ended

Mar. 31, 2015

5. Property and Equipment

Property and equipment consist of the following, in thousands:

	March 31,			December 31,
	2015			2014
	(unaudited)

Computer equipment	$	932		$	862
Software	314			254
Lab equipment and furniture	5,235			5,194
Leasehold improvements	2,446			2,428
	8,927			8,738
Less accumulated depreciation and amortization	(6,446		)	(6,290		)
	$	2,481		$	2,448

Depreciation expense on property and equipment was approximately $156,000 for the three months ended March 31, 2015 and $169,000 for the three months ended March 31, 2014.

- 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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