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

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

Property and Equipment, net

6 Months Ended

Jun. 30, 2014

Property Plant And Equipment [Abstract]

Property and Equipment

5. Property and Equipment, net

Property and equipment, net, consisted of the following:

($ in thousands)	Useful Life (Years)		As of June 30, 2014		As of December 31, 2013
Construction in progress		N/A	$		$	373
Computer equipment		3		13		13
Furniture and fixtures		5		69		69
Leasehold improvements		5		12		12
Total property and equipment				94		467
Less: Accumulated depreciation				(31)		(20)
Property and equipment, net			$	63	$	447

During the three and six month periods ended June 30, 2014, in relation to the abandonment of its Woburn, MA manufacturing facility, the Company recorded nil and $373,000, respectively, of impairment loss related to the write-off of its construction in progress long-lived asset. (See Note 6).

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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