Property and Equipment

9 Months Ended

Sep. 30, 2013

(5) Property and Equipment

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

	Estimated Life	September 30, 2013			December 31, 2012
Computer equipment	3 years	$	97		$	104
Lab equipment	5 years		142			142
Furniture and fixtures	5 years		86			93
Computer software	3 years		176			176
Leasehold improvements	Lesser of useful life or life of the lease		8			18
			509			533
Less accumulated depreciation and amortization			(482	)		(510	)
		$	27		$	23

For the nine months ended September 30, 2013 and 2012, and for the period from Inception through September 30, 2013, depreciation and amortization expense was $24,000, $34,000, and $1.8 million respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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