Operating Lease ROU Assets
|9 Months Ended|
Mar. 31, 2022
|Operating Lease ROU Assets [Abstract]|
|Operating Lease ROU Assets||
9. Operating Lease ROU Assets
On September 10, 2021, the Company entered into a lease for approximately 11,383 square feet of space in San Diego, California. Based on the terms of the lease payments, the Company recorded an operating lease right-of-use asset of $3,603,000.
On November 1, 2021, as discussed above, iBio CDMO acquired the Facility and became the tenant under the ground lease for the property upon which the Facility is located. Based on the terms of the lease payments, the Company recorded an operating lease right of use (“ROU”) asset of $1,967,000.
See Note 14 - Operating Lease Obligation for additional information.
The following table summarizes by category the net carrying values of operating lease ROU (in thousands):
The entire disclosure for lessee's right to use underlying asset under operating lease.
No definition available.