Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2021

Property and Equipment

Property and Equipment

4. Property and Equipment

Fortress’ property and equipment consisted of the following:


	Useful Life		March 31,		December 31,
($ in thousands)	(Years)		2021		2020

	(Unaudited)
Computer equipment		3	$	663	$	663
Furniture and fixtures		5		1,211		1,199
Machinery & equipment		5		5,748		5,748
Leasehold improvements		2-15		10,580		10,580
Construction in progress ¹		N/A		1,458		499
Total property and equipment				19,660		18,689
Less: Accumulated depreciation				(7,369)		(6,766)
Property and equipment, net			$	12,291	$	11,923

Note 1:

Relates to the Mustang cell processing facility.

Fortress' depreciation expense for the three months ended March 31, 2021 and 2020 was approximately $0.6 million and $0.5 million, respectively, and was recorded in both research and development expense and general and administrative expense in the Condensed Consolidated Statement of Operations.