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Indefinite-lived Intangible Assets, Goodwill, and Property and Equipment
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Indefinite-lived Intangible Assets, Goodwill, and Property and Equipment Indefinite-lived Intangible Assets, Goodwill, and Property and Equipment
IPR&D
Our IPR&D asset consisted of the following at:
Indefinite-lived
Intangible Asset
Rencofilstat balance at December 31, 2019$3,190,000 
Changes during the year ended December 31, 2020— 
Rencofilstat balance at December 31, 20203,190,000 
Changes during the year ended December 31, 2021— 
Rencofilstat balance at December 31, 2021$3,190,000 
No impairment losses were recorded on IPR&D during the years ended December 31, 2021 and 2020.
Goodwill
The table below provides a roll-forward of our goodwill balance:
Amount
Goodwill balance at December 31, 2019$1,870,924 
Changes during the year ended December 31, 2020— 
Goodwill balance at December 31, 2020$1,870,924 
Changes during the year ended December 31, 2021— 
Goodwill balance at December 31, 2021$1,870,924 
No impairment losses were recorded to goodwill during years ended December 31, 2021 and 2020.
Property and Equipment, net
Property and equipment are stated at cost and depreciated using the straight-line method, based on useful lives as follows:
Estimated Useful Life (in years)December 31,
2021		December 31,
2020
Equipment3.0 years$330,830 $200,425 
Furniture and fixtures7.0 years62,183 62,183 
Less: Accumulated depreciation(240,241)(154,168)
$152,772 $108,440 
Depreciation expense for the years ended December 31, 2021 and 2020 was $0.1 million and $34,515, respectively.