PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment consisted of the following (in thousands):



	December 31,
	2014			2013
	(in thousands)
Computer equipment	$	329		$	1,534
Office and other equipment	56			122
Laboratory equipment	346			1,794
Leasehold improvements	—			53
	$	731		$	3,503
Less: Accumulated depreciation	(235		)	(3,181		)
	$	496		$	322

The Company incurred depreciation expense of $0.2 million, $0.2 million and $0.1 million for the years ended December 31, 2014, 2013 and 2012, respectively. During the year ended December 31, 2014, in connection with the Company's closure of its Canadian office as described further in Note 8, the Company disposed of several fully depreciated assets with a gross book value of $3.2 million that were no longer in use.

- 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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