Note 4 - Property and Equipment, Net

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

4.

 

Property and Equipment, net

Property and equipment, net consists of the following (in thousands):

	As of
	March 31, 2019			December 31, 2018
Computer equipment and software	$	227		$	211
Furniture, fixtures, and other		365			365
Laboratory equipment		514			514
		1,106			1,090
Accumulated depreciation		(1,001	)		(827	)
Property and equipment, net	$	105		$	263

Depreciation expense for the

three

months ended

March 31, 2019

and

2018

was

$0.2

million, and

$32,000,

respectively.

During the

three

months ended

March 31, 2019,

the Company voluntarily discontinued substantially all research and development activities and as a result the Company performed an impairment assessment of the laboratory equipment used in development of vonapanitase by comparing the equipment’s carrying value to its estimated fair value, which was determined based on the recoverability of the assets remaining value as of

March 31, 2019.

The analysis resulted in an impairment of the Company’s laboratory equipment of

$133,000

which was charged to research and development expenses in the

three

months ended

March 

31,

2019.