Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2021
PROPERTY AND EQUIPMENT [Abstract]  
PROPERTY AND EQUIPMENT

4.

PROPERTY AND EQUIPMENT

 

Property and equipment at December 31, 2021 and 2020 is summarized as follows:

 

 

 

December 31,

2021

   

December 31,

2020

 

Manufacturing and laboratory equipment

  $ 16,702,991     $ 14,468,874  

Office equipment and computer software

    4,082,462       3,253,528  

Furniture and fixtures

    3,389,140       2,389,585  

Construction in process

    5,496,222       3,336,557  

Leasehold improvements

    11,129,639       5,272,490  

Land

    4,339,441       4,339,441  

Buildings and building improvements

    19,067,032       17,396,557  

 

    64,206,927       50,457,032  

Less: Accumulated depreciation

    (13,271,853 )     (8,863,942 )

Total property, plant and equipment, net

  $ 50,935,074     $ 41,593,090  

   

The Company recorded depreciation expense on property and equipment of $4.8 million and $3.2 million for the years ended December 31, 2021 and 2020, respectively.