Quarterly report pursuant to Section 13 or 15(d)

Selected Balance Sheet Information

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Selected Balance Sheet Information
3 Months Ended
Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Balance Sheet Disclosures [Text Block]
4. Selected Balance Sheet Information
 
 Prepaid expenses and other current assets (in thousands)
 
 
 
March 31, 2016
 
December 31, 2015
 
Intrexon prepaid research and development expenses
 
$
307
 
$
643
 
Prepaid clinical research organizations
 
 
6,160
 
 
8,329
 
Prepaid insurances
 
 
224
 
 
339
 
Other prepaid expenses
 
 
425
 
 
208
 
 
 
 
 
 
 
 
 
Total
 
$
7,116
 
$
9,519
 
 
The Intrexon prepaid research and development expenses are classified as a current asset. The Company may terminate the arrangement at any time and receive a cash refund of the remaining balance minus any amounts owed to Intrexon. The Company anticipates that the majority of the prepaid will be applied to research and development expenses during 2016.
 
Prepaid clinical research organization expense are classified as a current asset. The Company makes payments to the clinical research organizations based on agreed upon terms that includes payments in advance of study services. The Company anticipates that the majority of the prepaid clinical research organization expenses will be applied to research and development expenses during 2016.
 
Property and equipment (in thousands)
 
 
 
March 31, 2016
 
December 31, 2015
 
Computer and office equipment
 
$
371
 
$
346
 
Software
 
 
11
 
 
11
 
Leasehold improvements
 
 
242
 
 
242
 
 
 
 
 
 
 
 
 
 
 
 
624
 
 
599
 
Less accumulated depreciation and amortization
 
 
(123)
 
 
(105)
 
 
 
 
 
 
 
 
 
Total
 
$
501
 
$
494
 
 
Accrued expenses (in thousands)
 
 
 
March 31, 2016
 
December 31, 2015
 
Accrued manufacturing costs
 
$
2
 
$
-
 
Accrued vendor payments
 
 
388
 
 
133
 
Accrued clinical consulting services
 
 
556
 
 
164
 
 
 
 
 
 
 
 
 
Total
 
$
946
 
$
297
 
 
Accrued employee benefits (in thousands)
 
 
 
March 31, 2016
 
December 31, 2015
 
Accrued bonus expense
 
$
355
 
$
-
 
Accrued vacation expense
 
 
248
 
 
153
 
Other accrued employee benefits
 
 
266
 
 
124
 
 
 
 
 
 
 
 
 
Total
 
$
869
 
$
277