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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of intangible assets by major asset class
The following sets forth goodwill and intangible assets by major asset class:
 
 
 
 
December 31, 2019
 
December 31, 2018
 
Weighted Average Useful
Life
(Yrs)
Gross
 
Accumulated
Amortization
 
Net Book
Value
 
Gross
 
Accumulated
Amortization
 
Net Book
Value
Indefinite lived:
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill(a)
 
 
$
10,513,371

 
$
—

 
$
10,513,371

 
$
10,513,371

 
$
—

 
$
10,513,371

Definite lived:
 
 
 
 
 
 
 
 
 
 
 
 
 
Patents
10
 
5,802,528

 
(5,802,528
)
 
—

 
5,802,528

 
(5,742,079
)
 
60,449

Licenses
10
 
1,323,761

 
(1,248,104
)
 
75,657

 
1,323,761

 
(1,219,357
)
 
104,404

CELLECTRA®(b)
8
 
8,106,270

 
(8,106,270
)
 
—

 
8,106,270

 
(7,679,190
)
 
427,080

GHRH(b)
11
 
335,314

 
(335,314
)
 
—

 
335,314

 
(303,630
)
 
31,684

Bioject (c)
12
 
5,100,000

 
(2,175,556
)
 
2,924,444

 
5,100,000

 
(1,882,222
)
 
3,217,778

Other(d)
18
 
4,050,000

 
(3,356,250
)
 
693,750

 
4,050,000

 
(3,131,250
)
 
918,750

Total intangible assets
11
 
24,717,873

 
(21,024,022
)
 
3,693,851

 
24,717,873

 
(19,957,728
)
 
4,760,145

Total goodwill and intangible assets
 
 
$
35,231,244

 
$
(21,024,022
)
 
$
14,207,222

 
$
35,231,244

 
$
(19,957,728
)
 
$
15,273,516


(a)
Goodwill was recorded from the Inovio AS acquisition in January 2005, the acquisition of VGX in June 2009 and the acquisition of Bioject in April 2016 for $3.9 million, $6.2 million and $400,000, respectively.
(b)
CELLECTRA® and GHRH are developed technologies which were recorded from the acquisition of VGX.
(c)
Bioject intangible assets represent the estimated fair value of developed technology and intellectual property which were recorded from the Bioject asset acquisition.
(d)
Other intangible assets represent the estimated 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, 2019 is expected to be incurred as follows:
 
Year ending December 31,
 
2020
$
547,081

2021
520,414

2022
492,818

2023
275,760

2024
253,333

Thereafter
1,604,445

 
$
3,693,851