Quarterly report pursuant to Section 13 or 15(d)

Leasehold Improvements and Equipment

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Leasehold Improvements and Equipment
 9 Months Ended
Sep. 30, 2018
Property, Plant and Equipment [Abstract]  
Leasehold Improvements and Equipment

NOTE E – Leasehold Improvements and Equipment

 

Leasehold improvements and equipment, summarized by major category, consist of the following ($ in thousands) for the nine months ended September 30, 2018 and year ended December 31, 2017:

 

   

September 30,

2018

    

December 31,

2017

  
Lab equipment   $ 1,054       577  
Furniture and fixtures     20       20  
Equipment under capital lease     264       117  
Leasehold improvements     1,156       1,097  
Total     2,494       1,811  
Less: accumulated depreciation and amortization     397       241  
Leasehold improvements and equipment, net   $ 2,097     $ 1,570  

 

Depreciation and amortization expense for the nine months ended September 30, 2018 and year ended December 31, 2017 was approximately $156,000 and $100,000, respectively.

 

The Company has entered into capital leases for lab equipment. During the nine months ended September 30, 2018 and 2017 the Company recognized interest expense of approximately $9,400 and $2,500, respectively, associated with the lease payments.