Property and Equipment, Net

9 Months Ended

Sep. 30, 2013

F. Property and Equipment, Net

Property and equipment consisted of the following as of September 30, 2013 and December 31, 2012, respectively (in thousands):

	September 30, 2013			December 31, 2012
Buildings and improvements	$	953		$	5,373
Laboratory and production equipment	343			115
Furniture and fixtures	1,828			5,326
Construction in process	34			228
	3,158			11,042
Less - accumulated depreciation	(1,417		)	(7,745		)
Property and equipment, net	$	1,741		$	3,297

In September 2013, we relocated our corporate offices from Lexington, Massachusetts to Waltham, Massachusetts. In connection with our relocation, we recorded $1.4 million of new leasehold improvements and furniture and fixtures related to our new location. In addition, during the nine months ended September 30, 2013, we recorded $2.8 million of depreciation expense, including $1.9 million of accelerated depreciation expense related to fixed assets at our prior office facility.

- 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