Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of intangible assets by major asset class

The following sets forth the goodwill and intangible assets by major asset class:



		December 31, 2014							December 31, 2013
	Useful Life (Yrs)	Gross		Accumulated Amortization			Net Book Value		Gross		Accumulated Amortization			Net Book Value
Non-Amortizing:
Goodwill(a)		$	10,113,371	$	—		$	10,113,371	$	10,113,371	$	—		$	10,113,371
Amortizing:
Patents	8 – 17	5,802,528		(5,358,433		)	444,095		5,802,528		(5,128,227		)	674,301
Licenses	8 – 17	1,323,761		(1,104,366		)	219,395		1,323,761		(1,075,617		)	248,144
CELLECTRA^®(b)	5 – 11	8,106,270		(5,970,866		)	2,135,404		8,106,270		(5,543,786		)	2,562,484
GHRH(b)	11	335,314		(176,899		)	158,415		335,314		(145,215		)	190,099
Other(c)	18	4,050,000		(2,231,250		)	1,818,750		4,050,000		(2,006,250		)	2,043,750
Total intangible assets		19,617,873		(14,841,814		)	4,776,059		19,617,873		(13,899,095		)	5,718,778
Total goodwill and intangible assets		$	29,731,244	$	(14,841,814	)	$	14,889,430	$	29,731,244	$	(13,899,095	)	$	15,832,149


(a)	Goodwill was recorded from the Inovio AS acquisition in January 2005 and from the acquisition of VGX in June 2009 for $3.9 million and $6.2 million, respectively.


(b)	CELLECTRA^® and GHRH are developed technologies which were recorded from the acquisition of VGX.


(c)	Other intangible assets represent the fair value of acquired intellectual property from the Inovio AS acquisition.

Schedule of finite-lived intangible assets, future amortization expense

Amortization expense related to intangible assets at December 31, 2014 for each of the next five fiscal years and beyond is expected to be incurred as follows:



2015	$	870,200
2016	816,321
2017	775,331
2018	772,918
2019	772,918
Thereafter	768,371
	$	4,776,059