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Property and Equipment
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
 
Property and equipment consisted of the following (in thousands):
 
 
 
 
June 30,
2017
 
December 31,
2016
Furniture, computers and equipment
 
$
44

 
$
385

Accumulated depreciation
 
(31
)
 
(31
)
 
 
$
13

 
354



Depreciation expense was approximately $13,000 and $26,000 for the three months ended June 30, 2017 and 2016, respectively. Depreciation expense was approximately $18,000 and $45,000 for the six months ended June 30, 2017 and 2016.

In February 2017, the Company entered into an Asset Purchase Agreement for the sale of certain of the Company's lab equipment ("Lab Equipment") with a third party for cash consideration of $325,000. The selling price of the Lab Equipment approximated its book value at December 31, 2016.