Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2020

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 March 31, 2020			As of December 31, 2019
Laboratory and manufacturing equipment	3-10	$	15,462,319		$	15,437,724
Building and improvements	10-39		17,078,829			17,078,829
Office furniture and equipment	3-10		716,793			719,323
Construction in progress	n/a		2,552,383			1,124,189
Land	n/a		516,867			516,867
Property, plant and equipment, gross			36,327,191			34,876,932
Accumulated depreciation			(10,153,890	)		(9,611,194	)
Property, plant and equipment, net		$	26,173,301		$	25,265,738

As of March 31, 2020 and December 31, 2019, construction in progress consisted principally of payments toward the First Defense^® production capacity expansion project and equipment needed to bring the final formulation and aseptic filling for Re-Tain™ in-house. Approximately $16,294 and $1,830 of property, plant and equipment was disposed of during the three-month periods ended March 31, 2020 and 2019, respectively. Depreciation expense was $555,123 and $563,805 during the three-month periods ended March 31, 2020 and 2019, respectively.