Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, net

7. PROPERTY, PLANT AND EQUIPMENT, net

Property, plant and equipment consisted of the following:

	Estimated Useful Lives (in years)	As of December 31, 2019			As of December 31, 2018
Laboratory and manufacturing equipment	3-10	$	15,437,724		$	15,092,252
Building and improvements	10-39		17,078,829			17,018,316
Office furniture and equipment	3-10		719,323			731,510
Construction in progress	n/a		1,124,189			91,067
Land	n/a		516,867			516,867
Property, plant and equipment, gross			34,876,932			33,450,012
Accumulated depreciation			(9,611,194	)		(7,422,463	)
Property, plant and equipment, net		$	25,265,738		$	26,027,549

As of December 31, 2019, construction in progress consisted principally of payments toward the First Defense^® production capacity expansion project and equipment needed to bring the aseptic filling for Re-Tain™ in-house. As of December 31, 2018, construction in progress consisted principally of down payments towards two pieces of manufacturing equipment. Approximately $62,055 and $22,681 of property, plant and equipment was disposed of during the years ended December 31, 2019 and 2018, respectively. Depreciation expense was $2,248,317 and $1,501,607 during the years ended December 31, 2019 and 2018, respectively.