Property and Equipment

9 Months Ended

Mar. 31, 2023

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:

	March 31,		June 30,
	2023		2022
	(In thousands)
Manufacturing equipment	$	2,449	$	2,487
Leasehold improvements		1,003		999
Office equipment, furniture and other		1,128		1,128
Lab equipment		832		832
Property and equipment, gross		5,412		5,446
Less accumulated depreciation and amortization		(3,384)		(2,421)
Property and equipment, net	$	2,028	$	3,025

Depreciation and amortization expense was $0.3 million and $0.5 million for the three months ended March 31, 2023 and 2022, respectively; and $1.0 million and $1.3 million for the nine months ended March 31, 2023 and 2022, respectively.