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Property and Equipment

9 Months Ended

Mar. 31, 2022

Property and Equipment

Property and Equipment

6. 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:

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​	​	​	​	​	​	​
​	​	​	​	​	​	​
​		March 31,		​	June 30,
​	​	2022		​	2021
​	​	(In thousands)
Manufacturing equipment	​	$	2,139		$	3,070
Leasehold improvements			999	​		959
Office equipment, furniture and other			1,120	​		1,093
Lab equipment			832	​		832
Assets under construction			129	​		198
Property and equipment, gross	​	​	5,219	​	​	6,152
Less accumulated depreciation and amortization	​	​	(1,740)	​	​	(1,012)
Property and equipment, net		$	3,479	​	$	5,140

​

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Depreciation and amortization expense was $0.5 million and $0.1 million for the three months ended March 31, 2022 and 2021, respectively, and $1.3 million and $0.1 million for the nine months ended March 31, 2022 and 2021, respectively. During the nine months ended March 31, 2022 and 2021, the Company recognized a gain of $44,000 and a loss of $0.1 million on the disposal of equipment, respectively.

During the three and nine months ended March 31, 2022, in connection with the decision to divest Tussionex, the Company recorded a $0.2 million impairment charge related to manufacturing equipment associated with this product. There was no such impairment expense during the three and nine months ended March 31, 2021.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916

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