Fixed Assets

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Fixed assets at December 31, 2020 and 2019 consisted of the following:


	Cost		Accumulated Depreciation and Amortization		Net Book Value
As of December 31, 2020
Leasehold improvements	$	15,179,447	$	(6,549,418)	$	8,630,029

Laboratory equipment	4,788,678		(3,727,508)		1,061,170
Office furniture and fixtures	2,828,675		(2,296,942)		531,733
Computer equipment and other	4,544,915		(3,419,703)		1,125,212
	$	27,341,715	$	(15,993,571)	$	11,348,144
As of December 31, 2019
Leasehold improvements	$	15,007,935	$	(4,996,777)	$	10,011,158
Laboratory equipment	4,102,467		(3,229,357)		873,110
Office furniture and fixtures	3,048,053		(1,944,293)		1,103,760
Computer equipment and other	3,781,020		(2,996,031)		784,989
	$	25,939,475	$	(13,166,458)	$	12,773,017

Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $3.0 million, $3.6 million and $3.7 million, respectively. The Company determined that the carrying value of these long-lived assets was not impaired during the periods presented. During the year ended December 31, 2020 the Company disposed of fixed assets with a net book value of $227,000 and accumulated depreciation of $200,000.