Property, Plant and Equipment, Net and Held for Sale |
3 Months Ended |
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Mar. 31, 2025 | |
| Property, Plant and Equipment, Net and Held for Sale | |
| Property, Plant and Equipment, Net and Held for Sale |
Note 4 – Property, Plant and Equipment, Net and Held for Sale In February 2025, the Company terminated the lease of its Plantation Street Facility. The remaining lease liability of approximately $0.8 million was reversed, and the remaining leasehold improvements of approximately $0.3 million and right of use assets of approximately $0.1 million were written off, resulting in a net gain of $0.4 million recorded in research and development expense in the Unaudited Statements of Operations. In conjunction with the termination of the lease, the Company also completed the sale of the remaining equipment held for sale for approximately $1.2 million, which had been classified as held for sale at December 31, 2024. |
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- References No definition available.
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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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