5. PROPERTY

6 Months Ended

Oct. 31, 2012

Property

5. PROPERTY

Property, net consists of the following at October 31, 2012 and April 30, 2012:

	October 31, 2012			April 30, 2012
Leasehold improvements	$	1,383,000		$	1,383,000
Laboratory equipment		5,044,000			4,967,000
Furniture, fixtures, office equipment and software		2,519,000			2,287,000
		8,946,000			8,637,000
Less accumulated depreciation and amortization		(6,263,000	)		(5,737,000	)
Property, net	$	2,683,000		$	2,900,000

Depreciation and amortization expense for three and six months ended October 31, 2012 was $266,000 and $526,000, respectively, and $223,000 and $426,000 for the three and six months ended October 31, 2011, respectively.