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Property, Plant and Equipment, Net
 3 Months Ended
Mar. 31, 2022
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
March 31,
2022		   As of
December 31,
2021		 
Laboratory and manufacturing equipment  3-10  $17,790,623   $17,388,757 
Buildings and improvements  10-39   19,315,965    19,119,698 
Office furniture and equipment  3-10   891,453    869,191 
Construction in progress  n/a   3,187,950    2,992,359 
Land  n/a   516,867    516,867 
Property, plant and equipment, gross      41,702,858    40,886,872 
Accumulated depreciation      (14,570,710)   (13,993,273)
Property, plant and equipment, net     $27,132,148   $26,893,599 

 

As of March 31, 2022 and December 31, 2021, 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 $39,410 and $92,121 during the three-month periods ended March 31, 2022 and 2021, respectively. Depreciation expense was $616,847 and $614,695 during the three-month periods ended March 31, 2022 and 2021, respectively.