PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2012

4.	PROPERTY AND EQUIPMENT, NET

Property and equipment consist of the following at December 31, 2012 and 2011, in thousands:


			December 31,
	Useful Life		2012			2011
Laboratory equipment		5 years	$	21,201		$	19,994
Computer equipment and software		3 years		4,203			4,112
Furniture and fixtures		5 years		1,793			1,784
Leasehold improvements		*		19,862			19,676
Construction in progress		—		8,209			—

				55,268			45,566
Less: accumulated depreciation				(35,469	)		(30,923	)

			$	19,799		$	14,643

*	Shorter of asset life or lease term

The Company’s construction in progress balance is due to the construction of the Company’s manufacturing facility.

During the years ended December 31, 2012, 2011 and 2010, the Company recorded $4.6 million, $5.0 million and $4.8 million, respectively, of depreciation expense related to its property and equipment.

- 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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