Property and Equipment

3 Months Ended

Mar. 31, 2016

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following as of March 31, 2016, and December 31, 2015 (in thousands):



	March 31, 2016			December 31, 2015
Leasehold improvements	$	3,233		$	2,684
Lab and clean room equipment	7,528			4,564
Furniture and office equipment	5,730			4,577
Construction in progress	1,539			2,629
Property and equipment, gross	18,030			14,454
Less accumulated depreciation	(5,907		)	(4,979		)
Property and equipment, net	$	12,123		$	9,475

Included in net property and equipment is approximately $427,000 of equipment covered under capital leases. The corresponding liability of approximately $103,000 is included in other liabilities in the accompanying Condensed Consolidated Balance Sheets. Interest rates for these leases range from approximately 3% to 12% with maturity dates from September 2016 to January 2018.

Also included is approximately $1.0 million in leasehold improvements paid for by the landlord of the Company's main facility with a corresponding liability included in other liabilities which is amortized over the term of the lease.

Depreciation expense for the three months ended March 31, 2016 and 2015, was approximately $734,000 and $354,000, respectively.