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

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment

Property, Plant and Equipment

5. Property, Plant and Equipment

At September 30, 2023 and December 31, 2022, property, plant and equipment consisted of the following:


	Useful Life		September 30,		December 31,
($ in thousands)	(Years)		2023		2022


Computer equipment		3	$	595	$	739
Furniture and fixtures		5		1,017		1,387
Machinery & equipment		5		—		8,632
Leasehold improvements		15		13,175		13,175
Buildings		40		581		581
Construction in progress		N/A		—		952
Total property and equipment				15,368		25,466
Less: Accumulated depreciation				(8,514)		(12,446)
Property, plant and equipment, net			$	6,854	$	13,020

Fortress' depreciation expense for the three months ended September 30, 2023 and 2022 was approximately $0.4 million and $0.8 million, respectively, and for the nine months ended September 30, 2023 and 2022 was approximately $1.9 million and $2.3 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.