Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.6.0.2
Property and Equipment
12 Months Ended
Dec. 31, 2016
Property Plant And Equipment [Abstract]  
Property and Equipment

(2)

Property and Equipment

Depreciation and amortization of property and equipment is calculated on the straight-line method based on estimated useful lives of six to ten years for tenant improvements, and three years for all other property and equipment. Property and equipment consist of the following:

 

 

 

As of  December 31,

 

 

 

2016

 

 

2015

 

Lab equipment

 

$

1,314,060

 

 

$

1,284,626

 

Computer equipment

 

 

165,415

 

 

 

182,266

 

Computer software

 

 

299,227

 

 

 

302,549

 

Furniture and fixtures

 

 

184,233

 

 

 

184,233

 

Tenant improvements

 

 

763,898

 

 

 

763,898

 

Other office equipment

 

 

20,591

 

 

 

38,753

 

 

 

 

2,747,424

 

 

 

2,756,325

 

Less accumulated depreciation

 

 

(1,940,338

)

 

 

(1,729,541

)

 

 

$

807,086

 

 

$

1,026,784

 

 

Depreciation expense was $495,347, $458,734 and $371,603 for the years ended December 31, 2016, 2015 and 2014, respectively.