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

Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment

Property, Plant and Equipment

5. Property, Plant and Equipment

Fortress’ property, plant and equipment consisted of the following:


	Useful Life		March 31,		December 31,
($ in thousands)	(Years)		2023		2022


Computer equipment		3	$	739	$	739
Furniture and fixtures		5		1,387		1,387
Machinery & equipment		5		9,269		8,632
Leasehold improvements		2-15		13,175		13,175
Buildings		40		581		581
Construction in progress ¹		N/A		333		952
Total property and equipment				25,484		25,466
Less: Accumulated depreciation				(13,290)		(12,446)
Property, plant and equipment, net			$	12,194	$	13,020

Note 1:

Relates to the Mustang cell processing facility.

Fortress' depreciation expense for the three months ended March 31, 2023 and 2022 was approximately $0.8 million and $0.7 million, respectively. Fortress’ depreciation expense is recorded in both research and development expense and general and administrative expense in the condensed consolidated statement of operations.