Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.1
Property and Equipment
 3 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment
5. Property and Equipment 
 
Fortress’ property and equipment consisted of the following:
 
($ in thousands)
 
Useful Life

(Years)
 
March 31,

2019
 
 
December

31, 2018
 
Computer equipment
 
3
 
$
648
 
 
$
648
 
Furniture and fixtures
 
5
 
 
1,142
 
 
 
1,128
 
Machinery & equipment
 
5
 
 
3,242
 
 
 
3,143
 
Leasehold improvements
 
5
-
15
 
 
9,359
 
 
 
9,271
 
Construction in progress
1
 
N/A
 
 
487
 
 
 
393
 
Total property and equipment
 
 
 
 
14,878
 
 
 
14,583
 
Less: Accumulated depreciation
 
 
 
 
(3,045
)
 
 
(2,564
)
Property and equipment, net
 
 
 
$
11,833
 
 
$
12,019
 
 
Note 1: Relates to the Mustang cell processing facility.
 
Fortress' depreciation
expense for the three months ended March 31, 2019 and 2018, was approximately $0.5 million and $0.2 million, respectively, and was recorded in both research and development expense and general and administrative expense in the Condensed Consolidated Statements of Operations.