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Fixed Assets, net
12 Months Ended
Dec. 31, 2015
Fixed Assets, net  
Fixed Assets, net

5.        Fixed Assets, net

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

                                                                                                                                                                                    

 

 

 

 

As of December 31,

 

 

 

Estimated
Useful Life (years)

 

Asset Description

 

2015

 

2014

 

 

 

 

 

(in thousands)

 

Lab equipment

 

7

 

$

3,957

 

$

3,449

 

Furniture and fixtures

 

7

 

 

1,127

 

 

1,127

 

Computer hardware and software

 

3 - 5

 

 

1,969

 

 

921

 

Office equipment

 

7

 

 

65

 

 

65

 

Manufacturing Equipment

 

7

 

 

980

 

 

669

 

Leasehold improvements

 

lease term

 

 

5,300

 

 

4,627

 

​  

​  

​  

​  

 

 

 

 

 

13,398

 

 

10,858

 

Less accumulated depreciation

 

 

 

 

(5,306

)

 

(3,324

)

​  

​  

​  

​  

Fixed assets, net

 

 

 

$

8,092

 

$

7,534

 

​  

​  

​  

​  

​  

​  

​  

​  

              Depreciation expense was $2.0 million, $1.1 million and $0.7 million for the years ended December 31, 2015, 2014 and 2013, respectively. Depreciation expense includes depreciation for equipment under capital lease obligations.