Property and Equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property and equipment consisted of the following as of September 30, 2016, and December 31, 2015 (in thousands):



	September 30, 2016			December 31, 2015
Leasehold improvements	$	3,259		$	2,684
Lab and clean room equipment	7,971			4,564
Furniture and office equipment	6,271			4,577
Construction in progress	3,629			2,629
Property and equipment, gross	21,130			14,454
Less accumulated depreciation	(7,373		)	(4,979		)
Property and equipment, net	$	13,757		$	9,475

Included in net property and equipment is approximately $427,000 of equipment covered under capital leases. The corresponding liability of approximately $41,000 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 to January 2018.

Also included in net property and equipment 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 nine months ended September 30, 2016 and 2015, was approximately $2,394,000 and $1,247,000, respectively, and approximately $838,000 and $470,000 for the three months ended September 30, 2016 and 2015, respectively.