Property and Equipment

12 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

Property and equipment, net consist of the following:

	June 30,		June 30,
	2022		2021
	(In thousands)
Manufacturing equipment	$	2,487	$	3,070
Leasehold improvements		999		959
Office equipment, furniture and other		1,128		1,093
Lab equipment		832		832
Assets under construction		—		198
Property and equipment, gross		5,446		6,152
Less accumulated depreciation and amortization		(2,421)		(1,012)
Property and equipment, net	$	3,025	$	5,140

Depreciation expense was $1.6 million and $0.6 million for the years ended June 30, 2022 and 2021, respectively. During the year ended June 30, 2022 and 2021, the Company recognized a gain of $0.1 and a loss of $0.1 million on the disposal of equipment, respectively.

During the year ended June 30, 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.