Quarterly report pursuant to Section 13 or 15(d)

Fixed Assets

v3.22.1
Fixed Assets
9 Months Ended
Mar. 31, 2022
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):

    

March 31, 

    

June 30, 

2022

2021

Facility and improvements

$

20,394

$

1,517

Machinery and equipment

 

10,645

 

4,255

Office equipment and software

 

2,659

 

714

Construction in progress

3,640

3,367

 

37,338

 

9,853

Accumulated depreciation

 

(2,757)

 

(1,225)

Net fixed assets

$

34,581

$

8,628

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

Depreciation expense was approximately $709,000 and $119,000 for the three months ended March 31, 2022 and 2021, respectively. Depreciation expense was approximately $1,532,000 and $330,000 for the nine months ended March 31, 2022 and 2021, respectively.