Property and equipment

12 Months Ended

Dec. 31, 2012

8. Property and equipment

Property and equipment and related accumulated depreciation are as follows (in thousands):

	December 31, 2012			December 31, 2011

Laboratory equipment	$	663		$	—
Furniture and equipment		101			—
Computer equipment		7
Leasehold improvements		78			—
Less: accumulated depreciation		(93	)		—

	$	756		$	—

Depreciation expense for the year ended December 31, 2012, for the period from April 5, 2011 (Inception) through December 31, 2011 and for the period from April 5, 2011 (Inception) through December 31, 2012 was $93,000, $0 and $93,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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