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v3.25.2

Property, Plant and Equipment, Net | 6 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment, Net [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, net | 6. PROPERTY, PLANT AND EQUIPMENT, net Property, plant and equipment consisted of the following:
|  | Estimated Useful Lives (in years) |  | As of June 30, 2025 |  |  | As of December 31, 2024 |
Laboratory and manufacturing equipment |  | 3-10 |  | $ | 21,710,507 |  |  | $ | 21,234,259 |
Buildings and improvements |  | 10-39 |  |  | 21,309,272 |  |  |  | 20,889,395 |
Office furniture and equipment |  | 3-10 |  |  | 1,018,050 |  |  |  | 1,056,145 |
Construction in progress |  | n/a |  |  | 2,595,063 |  |  |  | 2,693,904 |
Land |  | n/a |  |  | 516,867 |  |  |  | 516,867 |
Property, plant and equipment, gross |  |  |  |  | 47,149,759 |  |  |  | 46,390,570 |
Accumulated depreciation |  |  |  |  | (22,266,761 | ) |  |  | (21,041,551 | )
Property, plant and equipment, net |  |  |  | $ | 24,882,998 |  |  | $ | 25,349,019 |
As of June 30, 2025 and December 31, 2024, 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. The costs associated with property, plant and equipment disposals were $99,918 and $71,162 during the three-month periods ended June 30, 2025 and 2024, respectively and $136,405 and $71,162 during the six-month periods ended June 30, 2025 and 2024, respectively. Depreciation expense was $663,455 and $666,182 during the three-month periods ended June 30, 2025 and 2024, respectively, and $1,334,646 and $1,328,659 during the six-month periods ended June 30, 2025 and 2024, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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