Property and Equipment

6 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

5. Property and Equipment

Properties 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.

Property and equipment consist of the following:

	December 31,		June 30,
	2022		2022
	(In thousands)
Manufacturing equipment	$	2,449	$	2,487
Leasehold improvements		999		999
Office equipment, furniture and other		1,128		1,128
Lab equipment		832		832
Property and equipment, gross		5,408		5,446
Less accumulated depreciation and amortization		(3,064)		(2,421)
Property and equipment, net	$	2,344	$	3,025

Depreciation and amortization expense was $0.4 million for both the three months ended December 31, 2022 and 2021, and $0.7 million and $0.8 million for the six months ended December 31, 2022 and December 31, 2021, respectively.