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Property, Plant and Equipment, Net
 9 Months Ended
Sep. 30, 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
September 30,
2020		   As of
December 31,
2019		 
Laboratory and manufacturing equipment  3-10  $15,693,928   $15,437,724 
Building and improvements  10-39   18,993,371    17,078,829 
Office furniture and equipment  3-10   775,095    719,323 
Construction in progress  n/a   2,434,842    1,124,189 
Land  n/a   516,867    516,867 
Property, plant and equipment, gross      38,414,103    34,876,932 
Accumulated depreciation      (11,234,063)   (9,611,194)
Property, plant and equipment, net     $27,180,040   $25,265,738 

 

As of September 30, 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 formulation and aseptic filling for Re-Tain™ in-house. Property, plant and equipment disposals were approximately $78,779 and $4,770 during the three-month periods ended September 30, 2020 and 2019, respectively, and $100,390 and $11,164 during the nine-month periods ended September 30, 2020 and 2019, respectively. Depreciation expense was $596,010 and $562,722 during the three-month periods ended September 30, 2020 and 2019, respectively, and $1,719,393 and $1,691,049 during the nine-month periods ended September 30, 2020 and 2019, respectively.