Annual report pursuant to Section 13 and 15(d)

Leasehold Improvements and Equipment

v3.19.1
Leasehold Improvements and Equipment
 12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Leasehold Improvements and Equipment

Note 4 – Leasehold Improvements and Equipment

 

Leasehold improvements and equipment, summarized by major category, consist of the following for the years ended December 31, 2018 and 2017:

 

    Year Ended December 31, 
(in thousands) 		 
    2018     2017  
Lab equipment   $ 1,054     $ 577  
Furniture and fixtures     -       20  
Equipment under capital lease     272       117  
Leasehold improvements     1,156       1,097  
Total     2,482       1,811  
Less: accumulated depreciation and amortization     439       241  
Leasehold improvements and equipment, net   $ 2,043     $ 1,570  

 

Depreciation and amortization expense for the years ended December 31, 2018 and 2017 was approximately $218 thousand and $101 thousand, respectively.

 

The Company has entered into capital leases for lab equipment. During the years ended December 31, 2018 and 2017 the Company recognized interest expense of approximately $13 thousand and $6 thousand, respectively, associated with the lease payments.