Property and Equipment

12 Months Ended

Dec. 31, 2014

6. Property and Equipment

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

	As of December 31,
	2014			2013
Laboratory equipment	$	4,093		$	1,377
Furniture		207			106
Computer equipment		7			7
Leasehold improvements		198			78

Total property and equipment, gross		4,505			1,568
Less: accumulated depreciation		(1,138	)		(688	)

Total property and equipment, net	$	3,367		$	880

We recorded depreciation and amortization expense of $0.5 million, $0.2 million and $0.1 million for the years ended December 31, 2014, 2013, and 2012, 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 during the year ended December 31, 2013. The loss was 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.

+ References+ Details