Property and Equipment

12 Months Ended

Dec. 31, 2013

6. Property and Equipment

Property and equipment and related accumulated depreciation are as follows (in thousands):

	December 31, 2013			December 31, 2012

Laboratory equipment	$	1,377		$	663
Furniture		106			101
Computer equipment		7			7
Leasehold improvements		78			78
Less: accumulated depreciation		(688	)		(93	)


	$	880		$	756

We recorded depreciation and amortization expense of $0.2 million, $0.1 million, zero, and $0.3 million for the years ended December 31, 2013 and 2012, the period from April 5, 2011 (inception) through December 31, 2011, and the period from April 5, 2011 (inception) through December 31, 2013, respectively. In July 2013, we entered into a master services agreement with a new global third party manufacturer to provide services for the manufacture of AUGMENT to replace our existing contract manufacturer. As a consequence of the contract manufacturer transition, we determined that we would no longer use certain laboratory equipment, and as such, recorded an impairment loss of $0.4 million. The loss is included within research and development expense.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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