Property and Equipment

6 Months Ended

Jun. 30, 2013

(5) Property and Equipment

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

	Estimated Life	June 30, 2013			December 31, 2012
Computer equipment	3 years	$	96		$	104
Lab equipment	5 years		142			142
Furniture and fixtures	5 years		85			93
Computer software	3 years		176			176
Leasehold improvements	Lesser of useful life or life of the lease		18			18
			517			533
Less accumulated depreciation and amortization			(496	)		(510	)
		$	21		$	23

For the six months ended June 30, 2013 and 2012, and for the period from Inception through June 30, 2013, depreciation and amortization expense was $19,000, $24,000, and $1.8 million 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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