PROPERTY AND EQUIPMENT, NET |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PROPERTY AND EQUIPMENT, NET |
NOTE 4 – PROPERTY AND EQUIPMENT, NET
Property and equipment are stated at cost and depreciated or amortized using the straight-line method based on useful lives as follows (in thousands):
Construction-in-progress relates to leasehold improvements for the Company’s new office space as well as for conversion of existing office space into additional manufacturing space to increase ZEVASKYN™ manufacturing capacity.
Depreciation and amortization on property and equipment was $0.6 million and $0.5 million for the three months ended June 30, 2025 and 2024, respectively and $1.1 million and $1.0 million for the six months ended June 30, 2025 and 2024, respectively. The Company capitalized into inventory $0.1 million relating to depreciation associated with manufacturing equipment and production facilities for the three and six months ended June 30, 2025. The capitalized costs associated are added to inventory and will be expensed through cost of sales product in the condensed consolidated statement of operations and comprehensive income (loss) upon our first commercial sale of ZEVASKYN™
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