Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.23.1
Property, Plant and Equipment
3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment  
Property, Plant and Equipment

Note 5 – Property, Plant and Equipment

At March 31, 2023 and December 31, 2022, property, plant and equipment consisted of the following:

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​

​

​

​

​

​

​

​

​

​

    

Estimated Useful

    

March 31, 

    

December 31, 

($ in thousands)

​

Life (in years)

​

2023

​

2022

Computer equipment

 

3

​

$

145

​

$

145

Furniture and fixtures

 

5

​

 

370

​

 

370

Machinery and equipment

 

5

​

 

9,268

​

 

8,632

Leasehold improvements

 

9

​

 

7,694

​

 

7,694

Construction in process

 

N/A

​

 

333

​

 

951

Total property, plant and equipment

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​

​

 

17,810

​

 

17,792

Less: accumulated depreciation

​

​

​

 

(9,153)

​

 

(8,401)

Property, plant and equipment, net

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​

​

$

8,657

​

$

9,391

​

Depreciation expense for the three months ended March 31, 2023 and 2022, was approximately $0.8 million and $0.6 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations.