Property and Equipment

6 Months Ended

Jun. 30, 2011

(6) Property and Equipment

At June 30, 2011 and December 31, 2010, net property and equipment at cost consisted of the following:


	June 30,			December 31,
(In thousands)	2011			2010
Leasehold improvements	$	525		$	515
Laboratory equipment and other		2,896			2,889

Total property and equipment, at cost		3,421			3,404
Less: accumulated depreciation		(2,724	)		(2,474	)

Property and equipment, net	$	697		$	930

As of June 30, 2011 and December 31, 2010, laboratory equipment and other included approximately $79,000 of office equipment financed under capital leases with accumulated depreciation of approximately $64,000 and $56,000, respectively.

Depreciation expense, which includes amortization of assets recorded under capital leases, was approximately $125,000 and $143,000 in the three months ended June 30, 2011 and 2010, respectively, and approximately $253,000 and $287,000 in the six months ended June 30, 2011 and 2010, 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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