Property and Equipment, Net

6 Months Ended

Jun. 30, 2013

5.	Property and Equipment, Net

Property and equipment, net, was comprised of the following at June 30, 2013 and December 31, 2012:


*In thousands*	June 30, 2013			December 31, 2012
Leasehold improvements	$	24,442		$	24,020
Equipment and furniture		21,942			19,876
Construction in progress		46,549			—

		92,933			43,896
Less accumulated depreciation and amortization		(37,875	)		(36,215	)

	$	55,058		$	7,681

Construction in progress as of June 30, 2013 includes costs incurred to date by the Company’s landlord for the construction of laboratory and office space in a new facility which is expected to be available for occupancy by the Company in early 2015. See Note 9 for further information.

Depreciation and amortization expense amounted to $939,000 and $748,000 for the three-month periods ended June 30, 2013 and 2012, respectively, and $1.7 million and $1.4 million for the six-month periods ended June 30, 2013 and 2012, respectively.

- 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.

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