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4. PROPERTY AND EQUIPMENT
6 Months Ended
Oct. 31, 2016
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

Property and equipment is recorded at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related asset, generally ranging from three to ten years. Amortization of leasehold improvements is calculated using the straight-line method over the shorter of the estimated useful life of the asset or the remaining lease term.

 

Property and equipment, net, consists of the following:

 

  

October 31,

2016

  

April 30,

2016

 
Leasehold improvements  $19,990,000   $19,610,000 
Laboratory equipment   10,569,000    10,257,000 
Furniture, fixtures, office equipment and software   4,227,000    4,045,000 
Total property and equipment   34,786,000    33,912,000 
Less accumulated depreciation and amortization   (10,829,000)   (9,610,000)
Total property and equipment, net  $23,957,000   $24,302,000 

 

Depreciation and amortization expense for the three and six months ended October 31, 2016 was $606,000 and $1,219,000, respectively. Depreciation and amortization expense for the three and six months ended October 31, 2015 was $223,000 and $457,000, respectively.