Fixed Assets, net

12 Months Ended

Dec. 31, 2011

5. Fixed Assets, net

Fixed assets are stated at cost and depreciated or amortized when available by applying the straight-line method, based on useful lives as follows:

	Estimated
Asset Description	Useful Life (years)		2011			2010

Lab equipment		7	$	3,072		$	2,595
Furniture and fixtures		7		56			54
Computer hardware and software		5		469			405
Office equipment		7		115			48
Leasehold improvements	lease term			577			979
				4,289			4,081
Less accumulated depreciation				(2,352	)		(2,979	)
Fixed assets, net			$	1,937		$	1,102

Depreciation expense was $0.3 million, $0.1 million and $0.7 million for the years ended December 31, 2011, 2010 and 2009, respectively. Depreciation expense includes depreciation for equipment under capital lease obligations.

Fixed assets include equipment held under capital lease obligations with an approximate net carrying value of $0.4 million and $0.1 million as of December 31, 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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