Property and Equipment

9 Months Ended

Sep. 30, 2013

3. Property and Equipment

Property and equipment consists of the following:


	Year Ended December 31,						Nine Months Ended September 30, 2013
	2011			2012			Nine Months Ended September 30, 2013
							(unaudited)
Computer equipment	$	1,951,246		$	2,003,706		$	2,172,535
Software		1,323,081			1,323,081			1,323,081
Furniture		599,650			599,650			599,650
Lab equipment		7,910,207			8,747,790			10,603,598
Office equipment		51,360			51,360			51,360
Leasehold improvements		4,831,706			4,881,706			4,893,770

Property and equipment		16,667,250			17,607,293			19,643,994
Less accumulated depreciation and amortization		(13,379,567	)		(14,339,497	)		(15,174,112	)

Property and equipment, net	$	3,287,683		$	3,267,796		$	4,469,882

Depreciation and amortization expense for the years ended December 31, 2011 and 2012 was $1,147,300 and $959,930, respectively, and $722,496 and $834,615 for the nine months ended September 30, 2012 and 2013, 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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