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Balance Sheet Details (Tables)
6 Months Ended
Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Prepaid and Other Current Assets
Prepaid and other current assets consist of the following (in thousands): 
 
June 30, 2018

 
December 31, 2017

Flex note receivable (1)
$
250

 
$
250

Other receivable from related parties
155

 
17

Clinical supplies
90

 
119

Insurance
270

 
96

Rent
63

 
63

Research and development costs
138

 
30

Other
167

 
78

Total
$
1,133

 
$
653

_______________________
(1) In June 2016, Private Evofem’s board of directors committed to a plan to sell its Softcup line of business (Softcup) and re-direct its available cash resources to further develop Amphora. In July 2016, the Company entered into an Asset Purchase Agreement with The Flex Company (Flex), whereby Flex would acquire certain assets and assume certain liabilities associated with Softcup. Total consideration for the Softcup sale was $1.9 million, with $0.6 million received in cash at closing and the remaining $1.3 million due and payable under a note in favor of the Company (the Flex Note) through January 1, 2021 (the Maturity Date). The Flex Note bears simple interest at a rate of 5.0% per annum on the remaining principal amount outstanding. An annual principal payment of approximately $0.3 million and the annual accrued and unpaid interest are payable each January 1, beginning in 2017 through the Maturity Date.

The Flex Note is secured by the Softcup assets and has been recorded at present value. The Company’s incremental borrowing rate and the stated interest rate of the Flex Note are materially consistent.
Property and Equipment, Net
Property and equipment, net, consists of the following (in thousands):
 
Useful Life
 
June 30, 2018

 
December 31, 2017

Research equipment
5 years
 
$
639

 
$
639

Computer equipment and software
3 years
 
6

 
6

Office furniture
5 years
 
205

 
205

Leasehold improvements
5 years or less
 
340

 
340

 
 
 
1,190

 
1,190

Less: accumulated depreciation and amortization
 
 
(473
)
 
(342
)
Total, net
 
 
$
717

 
$
848

Other Noncurrent Assets
Other noncurrent assets consist of the following (in thousands):
 
June 30, 2018

 
December 31, 2017

Flex note receivable, net of current portion
$
500

 
$
750

Prepaid Directors & Officers insurance
477

 

Total
$
977

 
$
750

Accrued Expenses
Accrued expenses consist of the following (in thousands):
 
June 30, 2018

 
December 31, 2017

Clinical studies
$
9,227

 
$
8,789

Sublicense fees
1,117

 
2,000

Public offering costs
176

 
135

Board of directors’ fees and related expenses
50

 
247

Legal and other professional fees
239

 
727

Other
295

 
188

Total
$
11,104

 
$
12,086