Intangible Assets, Net

3 Months Ended

Mar. 31, 2015

5.Intangible Assets, Net

Intangible assets were as follows:

	March 31, 2015						December 31, 2014
	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, net		Gross Carrying Amount		Accumulated Amortization		Intangible Assets, net
In-process research and development costs (IPR&D)	$	6,449,628	$	0	$	6,449,628	$	6,449,628	$	0	$	6,449,628

For the three months ended March 31, 2014, the Company recorded amortization expense on finite lived intangible assets of $186,819 within depreciation and amortization on the condensed consolidated statements of operations. Such amortization expense related to intangible assets acquired in the Company’s acquisition of Canterbury Laboratories LLC and Hygeia Therapeutics, Inc., which the Company abandoned and wrote-off in the fourth quarter of 2014. See Note 6 to the Company’s consolidated financial statements for the year ended December 31, 2014 included in the Company’s annual report on Form 10-K for the year ended December 31, 2014.