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Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 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
December 31,
2020		   As of
December 31,
2019		 
Laboratory and manufacturing equipment  3-10  $15,786,620   $15,437,724 
Building and improvements  10-39   18,999,500    17,078,829 
Office furniture and equipment  3-10   779,720    719,323 
Construction in progress  n/a   2,337,620    1,124,189 
Land  n/a   516,867    516,867 
Property, plant and equipment, gross      38,420,327    34,876,932 
Accumulated depreciation      (11,665,352)   (9,611,194)
Property, plant and equipment, net     $26,754,975   $25,265,738 

 

As of December 31, 2020 and 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 $358,924 and $62,055 during the years ended December 31, 2020 and 2019, respectively. Depreciation expense was $2,328,179 and $2,248,317 during the years ended December 31, 2020 and 2019, respectively.