Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.21.1
Property and Equipment
12 Months Ended
Dec. 31, 2020
Property and Equipment  
Property and Equipment

5. Property and Equipment

Fortress’ property and equipment consisted of the following:

    

Useful Life

    

December 31, 

    

December 31, 

($ in thousands)

(Years)

2020

2019

Computer equipment

 

3

$

663

$

648

Furniture and fixtures

 

5

 

1,199

 

1,162

Machinery & equipment

 

5

 

5,748

 

4,594

Leasehold improvements

 

2-15

 

10,580

 

9,358

Construction in progress 1

 

N/A

 

499

 

1,157

Total property and equipment

 

18,689

 

16,919

Less: Accumulated depreciation

 

(6,766)

 

(4,486)

Property and equipment, net

$

11,923

$

12,433

Note 1: Relates to the Mustang cell processing facility.

Depreciation expenses of Fortress’ property and equipment for the years ended December 31, 2020 and 2019 was $2.3 million and $1.9 million, respectively, and was recorded in research and development, and selling, general and administrative expense in the Consolidated Statements of Operations.