XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.20.4

Property and Equipment | 6 Months Ended
--- | ---
Oct. 31, 2020
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment is recorded at cost and primarily consists of laboratory equipment, furniture and fixtures, and computer equipment and software. Depreciation and amortization is calculated on a straight-line basis over the estimated useful lives of the various assets ranging from three to nine years. Property and equipment consisted of the following (table in thousands):
| October 31, 2020 |  | April 30, 2020
Furniture and fixtures | $ | 238 |  |  | $ | 180 |
Computer equipment and software | 1,758 |  |  | 1,209 |
Laboratory equipment | 5,787 |  |  | 4,818 |
Assets in progress | 441 |  |  | 554 |
Leasehold improvements | 4 |  |  | 4 |
Total property and equipment | 8,228 |  |  | 6,765 |
Less: Accumulated depreciation | (3,356) |  |  | (2,772) |
Property and equipment, net | $ | 4,872 |  |  | $ | 3,993 |
Depreciation and amortization expense, excluding expense recorded under the finance lease, was $254,000 and $162,000 for the three months ended October 31, 2020 and 2019, respectively. Depreciation and amortization expense, excluding expense recorded under the finance lease, was $478,000 and $307,000 for the six months ended October 31, 2020 and 2019, respectively. As of October 31, 2020 and April 30, 2020, property, plant and equipment included gross assets held under finance leases of $343,000 and $366,000, respectively. Related depreciation expense was approximately $53,000 and $16,000 for the three months ended October 31, 2020 and 2019 and $106,000 and $53,000 for the six months ended October 31, 2020 and 2019, respectively. Finance Lease In November 2014, the Company entered into a finance lease for laboratory equipment. The lease had costs of approximately $149,000, at inception, through November 2019. The final lease payment under this finance lease of $2,000 was paid during the three months ended January 31, 2020. As of October 31, 2020 the asset has been fully depreciated and book value is nil. In July 2018, the Company entered into a second finance lease for laboratory equipment. The lease had costs of approximately $266,000, inclusive of interest and taxes, with a monthly payment of approximately $11,000. Although the lease was originally due to mature in July 2020, the Company decided to pay the outstanding balance on February 1, 2019. As a result, the entire outstanding balance of the lease was nil for periods subsequent to that date. In December 2019, the Company entered into a finance lease for laboratory equipment. The lease had costs of approximately $231,000, at inception, through November 2020. This lease expires December 2020. The current monthly finance lease payment is approximately $19,000. The future minimum lease payments remaining under this finance lease are approximately $19,000. The present value of minimum future obligations is calculated based on interest rate of 4.75%. Depreciation and amortization expense related to this finance lease was $53,100 and nil for the three months ended October 31, 2020 and 2019, respectively, and $106,000 and nil for the six months ended October 31, 2020 and 2019, respectively.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration