Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

3. Property and Equipment

Property and equipment is recorded at cost and depreciated over the estimated useful lives of the underlying assets (three to five years) using the straight-line method. As of March 31, 2019 and December 31, 2018, property and equipment consists of (in thousands):

	March 31, 2019			December 31, 2018
Lab equipment (excluding equipment under finance leases)	$	960		$	945
Finance lease right-of-use lab equipment obtained in exchange for finance lease liabilities		347			347
Computer and office equipment		85			75
Total property and equipment		1,392			1,367
Less: accumulated depreciation and amortization		(1,006	)		(983	)
Property and equipment, net	$	386		$	384

Total depreciation and amortization expense was $23,000 and $15,000 for the three months ended March 31, 2019 and 2018, which includes amortization expense of $17,000 and $6,000 related to finance lease right-of-use lab equipment, respectively. For additional finance leases information, refer to Note 12 – Commitments and Contingencies.