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, 2017

Property Plant And Equipment [Abstract]

6. Property and Equipment

Fortress's property and equipment, exclusive of National's property and equipment, consisted of the following ($ in thousands):

	Estimated Useful	March 31,		December 31,
	Lives (in years)	2017		2016
Computer equipment	3	$	489	$	440
Furniture and fixtures	5		887		821
Leasehold improvements	Various		5,401		5,396
Total property and equipment			6,777		6,657
Less: accumulated depreciation			(621)		(445)
Property and equipment, net		$	6,156	$	6,212

Fortress's depreciation expense for the three months ended March 31, 2017 and 2016, was approximately $176,000 and $4,000, respectively, and was recorded in both research and development expense and general and administrative expense in the Condensed Consolidated Statements of Operations.

National's property and equipment as of December 31, 2016 consisted of the following ($ in thousands):

	December 31,		Estimated Useful
	2016		Lives (in years)
Equipment	$	719	5
Furniture and fixtures		71	5
Leasehold improvements		298	Lesser of useful life or term of lease
Capital leases (primarily composed of computer equipment)		276	5
Total property and equipment		1,364
Less: accumulated depreciation		(134)
Property and equipment, net	$	1,230