NEXGEL, Inc. Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

12 Months Ended

Dec. 31, 2021

7. Property and Equipment, Net

Property and equipment consist of the following ($ in thousands):


	Useful Life	December 31,		December 31,
	(Years)	2021		2020
Machinery and equipment	3 - 10	$	940	$	2,894
Office furniture and equipment	3 - 10		50		49
Leasehold improvements	6		228		228
Construction in progress	N/A		—		461
			1,218		3,632
Less: accumulated depreciation and amortization			(495)		(3,079)
Property and equipment, net		$	723	$	553

Depreciation expense for the year ended December 31, 2021 and 2020 was $99 thousand and $42 thousand, respectively.