Note 5 - Property and Equipment

6 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 5 - Property and Equipment

Property and equipment are recorded at cost and depreciated on a straight-line basis over the assets’ estimated economic life. Leasehold improvements are amortized over the shorter of the estimated economic life or remaining lease term. Depreciation and amortization expense from property and equipment was less than $0.1 million and $0.3 million for the three months ended December 31, 2024, and 2023, respectively, and $0.1 and $0.6 million for the six months ended December 31, 2024, and 2023, respectively.

Property and equipment, net, consist of the following:

	December 31,			June 30,
	2024			2024
	(in thousands)
Manufacturing and lab equipment	$	721		$	1,838
Office equipment, furniture and other		282			945
Leasehold improvements		164			35
Property and equipment, gross		1,167			2,818
Less: accumulated depreciation and amortization		(651	)		(2,125	)
Property and equipment, net	$	516		$	693