Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.24.1.1.u2
Property, Plant and Equipment
3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment  
Property, Plant and Equipment

Note 5 – Property, Plant and Equipment

At March 31, 2024, and December 31, 2023, property, plant and equipment consisted of the following:

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​

​

​

​

​

​

​

​

​

​

    

Estimated Useful

    

March 31, 

    

December 31, 

($ in thousands)

​

Life (in years)

​

2024

​

2023

Leasehold improvements

 

9

​

 

7,694

​

 

7,694

Construction in process

 

N/A

​

 

29

​

 

29

Total property, plant and equipment

​

​

​

 

7,723

​

 

7,723

Less: accumulated depreciation

​

​

​

 

(4,761)

​

 

(4,476)

Property, plant and equipment, net

​

​

​

$

2,962

​

$

3,247

​

Depreciation expense for the three months ended March 31, 2024 and 2023, was approximately $0.3 million and $0.8 million, respectively, and was recorded in research and development expense in the Unaudited Statements of Operations.