Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

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Fixed Assets
6 Months Ended
Dec. 31, 2021
Fixed Assets [Abstract]  
Fixed Assets

10.   Fixed Assets

The following table summarizes by category the gross carrying value and accumulated depreciation of fixed assets (in thousands):

    

December 31, 

    

June 30, 

2021

2021

Facility and improvements

$

20,298

$

1,517

Machinery and equipment

 

7,642

 

4,255

Office equipment and software

 

2,429

 

714

Construction in progress

4,560

3,367

 

34,929

 

9,853

Accumulated depreciation

 

(2,048)

 

(1,225)

Net fixed assets

$

32,881

$

8,628

As discussed above, on November 1, 2021, iBio CDMO acquired the Facility and medical equipment.  

Depreciation expense was approximately $517,000 and $114,000 for the three months ended December 31, 2021, and 2020, respectively. Depreciation expense was approximately $823,000 and $211,000 for the six months ended December 31, 2021, and 2020, respectively.