Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.24.1.1.u2
Property and Equipment
3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment  
Property, Plant and Equipment

5. Property and Equipment

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Useful Life

    

March 31, 

​

December 31,

($ in thousands)

​

(Years)

​

2024

​

2023

​

​

​

Computer equipment

 

​

3

​

$

595

​

$

595

Furniture and fixtures

 

​

5

​

 

1,017

​

 

1,017

Machinery & equipment

 

​

5

​

 

—

​

 

—

Leasehold improvements

 

​

15

​

 

13,175

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13,175

Buildings

​

​

40

​

​

581

​

​

581

Construction in progress

 

​

N/A

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29

​

 

29

Total property and equipment

 

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​

​

​

15,397

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15,397

Less: Accumulated depreciation

 

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​

​

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(9,269)

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(8,892)

Property and equipment, net

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​

​

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$

6,128

​

$

6,505

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Fortress' depreciation expense for the three months ended March 31, 2024 and 2023 was approximately $0.4 million and $0.8 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.