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Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | Intangible Assets and Goodwill Intangible assets and Goodwill consisted of the following at December 31, 2024 and 2023.
|  | 2024 |  | 2023
Product and license rights |  | $ | 43,250,341 |  |  | $ | 43,250,341 |
Less: accumulated amortization |  | (26,300,793) |  |  | (22,755,543) |
Total product and license rights |  | 16,949,548 |  |  | 20,494,798 |
Patents |  | 10,808,476 |  |  | 10,712,405 |
Less: accumulated amortization |  | (9,965,779) |  |  | (8,819,287) |
Total patents |  | 842,697 |  |  | 1,893,118 |
Trademarks |  | 433,397 |  |  | 413,775 |
Less: accumulated amortization |  | (252,193) |  |  | (193,773) |
Total trademarks |  | 181,204 |  |  | 220,002 |
Total intangible assets |  | $ | 17,973,449 |  |  | $ | 22,607,918 |
Goodwill |  | $ | 914,000 |  |  | $ | 914,000 |
Product and license rights include assets associated with the Company’s acquired products, including those discussed in Note 3, Vibativ and Sancuso. During 2024 and 2023, the Company recorded an additional $0.1 million for each year in intangible assets for patents, trademarks and capitalized patent costs, including amounts incurred in the protection of the Company's intellectual property. Amortization expense related to product and license rights, trademarks and patents were as follows for the years ended December 31:
|  | 2024 |  | 2023 |  |
Amortization and impairment expense |  | $ | 4,748,252 |  |  | $ | 8,102,648 |  |  |
The expected amortization expense for the Company's current balance of intangible assets are as follows:
Year ending December 31: |  |
2025 |  | $ | 3,991,482 |
2026 |  | 3,776,803 |
2027 |  | 3,421,395 |
2028 |  | 2,535,409 |
2029 and thereafter |  | 4,248,360 |
|  | $ | 17,973,449 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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