Annual report pursuant to Section 13 and 15(d)

5. PROPERTY AND EQUIPMENT

v3.20.1
5. PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
5. PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2019 and 2018 is summarized as follows:

 

    December 31, 2019   December 31, 2018
Manufacturing and laboratory equipment   $ 8,831,817     $ 8,233,203  
Office equipment and computer software     1,690,248       1,608,994  
Furniture and fixtures     582,088       1,163,552  
Construction in process     4,285,915       845,538  
Leasehold improvements     1,673,084       1,660,709  
Land     4,339,441       4,339,441  
Buildings and building improvements     16,063,680       15,685,325  
      37,466,273       33,536,762  
Less: Accumulated depreciation     (5,724,956 )     (3,421,032 )
Total property, plant and equipment, net   $ 31,741,317     $ 30,115,730  

 

The Company recorded depreciation expense on property and equipment of $2.4 million and $2.6 million for the years ended December 31, 2019 and 2018, respectively, which includes $0.3 million of depreciation expense on the plasma assets to be transferred (see Note 3) for the year ended December 31, 2018.