Fortress Biotech, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2025

8. Intangible Assets

The Company’s finite-lived intangible assets consist of intangible assets acquired by Journey. The table below provides a summary of intangible assets as of December 31, 2025 and 2024, respectively:


		Estimated Useful		December 31,			December 31,
($ in thousands)		Lives (Years)		2025			2024
Intangible assets – product licenses		3 to 15		$	52,925		$	52,925
Accumulated amortization					(22,177)			(17,919)
Accumulated Impairment loss					(3,143)			(3,143)
Net intangible assets				$	27,605		$	31,863

The Company’s amortization expense for the years ended December 31, 2025 and 2024 was approximately $4.3 million and $3.4 million, respectively. Amortization expense is recorded as a component of cost of goods sold in the Company’s Consolidated Statements of Operations.

In the fourth quarter of 2024, the FDA approved Journey’s Emrosi for the treatment of inflammatory lesions of rosacea in adults. The approval triggered a $15.0 million milestone payment to DRL, which Journey capitalized as an acquired intangible asset.

The future amortization of these intangible assets is as follows:


		Total
For the years ended: ($ in thousands)		Amortization
2026			3,470
2027			2,775
2028			2,596
2029			2,596
2030			2,596
Thereafter			9,631
Sub-total		$	23,664
Asset not yet placed in service			3,941
Total		$	27,605