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Property, plant and equipment | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
Property, plant and equipment | (6) Property, plant and equipment As of September 30, 2023 and December 31, 2022, the Company’s property, plant and equipment was as follows:
|  | September 30, 2023 |  |  | December 31, 2022 |
Laboratory equipment |  | $ | 9,979,077 |  |  | $ | 9,000,114 |
Animal facility leasehold improvements |  |  | 8,357,667 |  |  |  | 8,357,667 |
Animal facility equipment |  |  | 1,137,666 |  |  |  | 1,141,213 |
Construction-in-progress |  |  | — |  |  |  | 308,317 |
Leasehold improvements |  |  | 9,296,344 |  |  |  | 9,296,343 |
Vehicles |  |  | 208,453 |  |  |  | 192,683 |
Office furniture and equipment |  |  | 631,910 |  |  |  | 1,233,038 |
Total Property, plant and equipment, gross |  |  | 29,611,117 |  |  |  | 29,529,375 |
Less: accumulated depreciation and amortization |  |  | (8,989,368 | ) |  |  | (6,278,522 | )
Property, plant and equipment, net |  | $ | 20,621,749 |  |  | $ | 23,250,853 |
Depreciation and amortization expense was $0.96 million and $0.89 million, respectively, for the three months ended September 30, 2023 and 2022, and $2.73 million and $2.27 million, respectively, for the nine months ended September 30, 2023 and 2022. All tangible personal property with a useful life of at least three years and a unit acquisition cost of $5 thousand or more will be capitalized and depreciated over its useful life using the straight-line method of depreciation. The Company will expense the full acquisition cost of tangible personal property below these thresholds in the year of purchase. The basis of accounting for depreciable fixed assets is acquisition cost and any additional expenditures required to make the asset ready for use. The carrying amount at the balance sheet date of long-lived assets under construction-in-progress includes assets purchased, constructed, or being developed internally that are not yet in service. Depreciation commences when the assets are placed in service. As of September 30, 2023 and December 31, 2022, the Company’s construction-in-progress was as follows:
|  | September 30, 2023 |  |  | December 31, 2022 |
New office space at Headquarters |  | $ | — |  |  | $ | 85,767 |
IT equipment at Headquarters |  |  | — |  |  |  | 84,739 |
Software |  |  | — |  |  |  | 137,811 |
Total construction-in-progress |  | $ | — |  |  | $ | 308,317 |

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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