PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

The principal categories and estimated useful lives of property and equipment at December 31 were:

	2015		2014		Estimated Useful Lives
Computer equipment	$	332,764	$	334,865		3
Office and laboratory equipment		628,726		740,177		3-5
Furniture and fixtures		228,099		755,444		7
Manufacturing equipment		61,998		111,980		5
Leasehold improvements		41,968		825,589		3-7
Total property and equipment		1,293,555		2,768,055
Less accumulated depreciation and amortization		1,025,884		1,629,462
Property and equipment, net	$	267,671	$	1,138,593

The Company recorded a loss on disposal of $278,816, primarily in connection with its corporate office and research facility relocations to Iselin, New Jersey and to Littleton, Massachusetts, respectively. In connection with its relocation from its Franklin, Massachusetts to Littleton, Massachusetts research facility, the Company sold excess furniture to the incoming tenant. Additionally, each move required the Company to write-off its leasehold improvements. See Note 6.