9.   Operating Lease ROU Assets

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San Diego, California

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On September 10, 2021, the Company entered into a lease for approximately 11,383 square feet of space in San Diego, California (the “San Diego Lease”).  Based on the terms of the lease payments, the Company recorded an operating lease ROU asset of $3,603,000.  The net carrying amount of this ROU operating lease asset was $2,317,000 and $2,401,000 at September 30, 2024 and June 30, 2024, respectively. See Note 14 - Operating Lease Obligations for additional information.

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Bryan, Texas

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On November 1, 2021, iBio CDMO acquired the Facility and became the tenant under the Ground Lease Agreement upon which the Facility is located. This lease was terminated on May 31, 2024.