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

Quarterly report pursuant to Section 13 or 15(d)

Accrued Liabilities and other Long-Term Liabilities (Tables)

Accrued Liabilities and other Long-Term Liabilities (Tables)

9 Months Ended

Sep. 30, 2019

Accrued Liabilities and other Long-Term Liabilities

Schedule of accrued expenses and other long-term liabilities

Accrued expenses and other long-term liabilities consisted of the following:


	September 30,		December
($ in thousands)	2019		31, 2018
	(Unaudited)
Accrued expenses:
Professional fees	$	1,577	$	1,434
Salaries, bonuses and related benefits		5,863		5,843
Research and development		3,285		3,805
Research and development - manufacturing		919		826
Research and development - clinical supplies		159		160
Research and development - license maintenance fees		689		519
Research and development - milestones		500		200
Dr. Falk Pharma milestone		—		300
Accrued royalties payable		1,833		1,108
Accrued coupon expense		1,994		838
Other		2,586		1,327
Total accrued expenses	$	19,405	$	16,360

Other long-term liabilities:
Deferred rent and long-term lease abandonment charge(1)	$	2,183	$	5,211
Long-term note payable(2)		4,842		—
Total other long-term liabilities	$	7,025	$	5,211

Note 1: As of September 30, 2019, balance consists of deferred charges related to build-out of the New York facility, and as of December 31, 2018, balance consists of deferred rent and deferred build out charges.

Note 2: As of September 30, 2019, Journey recorded a note payable, net of an imputed interest discount of $2.3 million, of $4.7 million in connection with its acquisition of Ximino, see Note 9. The imputed interest discount was calculating utilizing an 11.96% effective interest rate based upon a non-investment grade “CCC” rate over a five-year period.