THLD » Topics » NOTE 4-PROPERTY AND EQUIPMENT

These excerpts taken from the THLD 10-K filed Mar 13, 2009.

Property and equipment

Property and equipment is stated at cost less accumulated depreciation. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets, generally three years. Leasehold improvements are amortized using the straight-line method over the estimated useful life of the improvement, or the lease term, if shorter. Accordingly, leasehold improvements are being amortized over lease terms of approximately 4-5 years. Maintenance and repairs are charged to operations as incurred. Upon sale or retirement of assets, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations.

NOTE 4—PROPERTY AND EQUIPMENT

Property and equipment comprise the following (in thousands):

 

     December 31,  
     2008     2007  

Computer and office equipment

   $ 866     $ 866  

Laboratory equipment

     1,253       1,238  

Leasehold improvements

     2,795       2,795  
                
     4,914       4,899  

Less: Accumulated depreciation and amortization

     (3,746 )     (2,802 )
                

Total property and equipment, net

   $ 1,168     $ 2,097  
                

Depreciation and amortization expense was $1.0 million, $1.1 million, $0.9 million and $3.8 million for the years ended December 31, 2008, 2007 and 2006, and, cumulatively, for the period from October 17, 2001 (date of inception) to December 31, 2008, respectively.

Certain laboratory, computer and office equipment with a cost basis of approximately $0.6 million is collateral for borrowings under the loan and security agreement with Silicon Valley Bank.

This excerpt taken from the THLD 10-K filed Mar 12, 2008.

NOTE 4—PROPERTY AND EQUIPMENT

Property and equipment comprise the following (in thousands):

 

     December 31,  
     2007     2006  

Computer and office equipment

   $ 866     $ 901  

Laboratory equipment

     1,238       1,202  

Leasehold improvements

     2,795       2,787  
                
     4,899       4,890  

Less: Accumulated depreciation and amortization

     (2,802 )     (1,721 )
                

Total property and equipment, net

   $ 2,097     $ 3,169  
                

Depreciation and amortization expense was $1.1 million, $0.9 million, $0.6 million and $2.8 million for the years ended December 31, 2007, 2006 and 2005, and, cumulatively, for the period from October 17, 2001 (date of inception) to December 31, 2007, respectively.

 

69


Table of Contents

Certain laboratory, computer and office equipment with a cost basis of approximately $0.6 million is collateral for borrowings under the loan and security agreement with Silicon Valley Bank.

These excerpts taken from the THLD 10-K filed Jan 18, 2008.

NOTE 4—PROPERTY AND EQUIPMENT

Property and equipment comprise the following (in thousands):

 

     December 31,  
     2006     2005  

Computer and office equipment

   $ 901     $ 330  

Laboratory equipment

     1,202       728  

Leasehold improvements

     2,787       1,426  
                
     4,890       2,484  

Less: Accumulated depreciation

     (1,721 )     (817 )
                

Total property and equipment, net

   $ 3,169     $ 1,667  
                

Depreciation expense was $0.9 million, $0.6 million, $0.1 million and $1.7 million for the years ended December 31, 2006, 2005 and 2004, and, cumulatively, for the period from October 17, 2001 (date of inception) to December 31, 2006, respectively.

Certain laboratory, computer and office equipment with a cost basis of approximately $1.3 million is collateral for borrowings under the loan and security agreement with Silicon Valley Bank.

NOTE 4—PROPERTY AND EQUIPMENT

FACE="Times New Roman" SIZE="2">Property and equipment comprise the following (in thousands):

 





















































































































   December 31, 
   2006  2005 

Computer and office equipment

  $901  $330 

Laboratory equipment

   1,202   728 

Leasehold improvements

   2,787   1,426 
         
   4,890   2,484 

Less: Accumulated depreciation

   (1,721)  (817)
         

Total property and equipment, net

  $3,169  $1,667 
         

Depreciation expense was $0.9 million, $0.6 million, $0.1 million and $1.7 million for the years
ended December 31, 2006, 2005 and 2004, and, cumulatively, for the period from October 17, 2001 (date of inception) to December 31, 2006, respectively.

FACE="Times New Roman" SIZE="2">Certain laboratory, computer and office equipment with a cost basis of approximately $1.3 million is collateral for borrowings under the loan and security agreement with Silicon Valley Bank.

STYLE="margin-top:18px;margin-bottom:0px">NOTE 5—ACCRUED LIABILITIES:

Accrued liabilities
comprise the following (in thousands):

 























































































   December 31, 
   2006  2005 

Payroll and employee related expenses

  $1,610  $1,265 

Professional services

   384   369 

Other accrued expenses

       292      524 
         

Total Accrued liabilities

  $2,286  $2,158 
         

In August 2006, the Company adopted a plan to reduce its operating expenses, following its
decision to discontinue development of TH-070 for benign prostatic hyperplasia. The plan included a reduction of 29 full-time employees in both research and development and general and administrative areas of the Company. As a result of the staffing
reduction, the Company incurred severance benefits of approximately $1.0 million during the quarter ended September 30, 2006. The payout of the accrued severance benefits was completed in the fourth quarter of 2006.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The following table sets forth an analysis of the restructuring accrual during the year ended December 31, 2006 (in thousands):

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 













































   Balance at
January 1, 2006
  Charges  Cash paid  Balance at
December 31, 2006

Severance and benefits

  $—    $1,035  $(1,035) $—  
This excerpt taken from the THLD 10-K filed Mar 15, 2007.

NOTE 4—PROPERTY AND EQUIPMENT

Property and equipment comprise the following (in thousands):

 

     December 31,  
     2006     2005  

Computer and office equipment

   $ 901     $ 330  

Laboratory equipment

     1,202       728  

Leasehold improvements

     2,787       1,426  
                
     4,890       2,484  

Less: Accumulated depreciation

     (1,721 )     (817 )
                

Total property and equipment, net

   $ 3,169     $ 1,667  
                

Depreciation expense was $0.9 million, $0.6 million, $0.1 million and $1.7 million for the years ended December 31, 2006, 2005 and 2004, and, cumulatively, for the period from October 17, 2001 (date of inception) to December 31, 2006, respectively.

Certain laboratory, computer and office equipment with a cost basis of approximately $1.3 million is collateral for borrowings under the loan and security agreement with Silicon Valley Bank.

This excerpt taken from the THLD 10-K filed Mar 28, 2006.

NOTE 4—PROPERTY AND EQUIPMENT:

 

Property and equipment comprise the following (in thousands):

 

     December 31,

 
     2005

    2004

 

Computer and office equipment

   $ 330     $ 73  

Laboratory equipment

     728       437  

Leasehold improvements

     1,426       1,401  
    


 


       2,484       1,911  

Less: Accumulated depreciation

     (817 )     (244 )
    


 


     $ 1,667     $ 1,667  
    


 


 

Depreciation expense was $573,000, $143,000, $90,000 and $817,000 for the years ended December 31, 2005, 2004 and 2003, and, cumulatively, for the period from October 17, 2001 (date of inception) to December 31, 2005, respectively.

 

Certain laboratory, computer and office equipment with a cost basis of approximately $0.7 million is collateral for borrowings under the loan and security agreement with Silicon Valley Bank.

 

This excerpt taken from the THLD 10-K filed Mar 31, 2005.

NOTE 4—PROPERTY AND EQUIPMENT:

 

Property and equipment comprise the following (in thousands):

 

     December 31,

 
     2004

    2003

 

Laboratory equipment

   $ 437     $ 270  

Computer and office equipment

     73       30  

Leasehold improvements

     1,401       —    
    


 


       1,911       300  

Less: Accumulated depreciation

     (244 )     (101 )
    


 


     $ 1,667     $ 199  
    


 


 

65


Table of Contents
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki