Fortress Biotech, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Accrued Liabilities and other Long-Term Liabilities (Tables)

Accrued Liabilities and other Long-Term Liabilities (Tables)

12 Months Ended

Dec. 31, 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:


	December 31,
($ in thousands)	2019		2018
Accrued expenses:
Professional fees	$	1,153	$	1,434
Salaries, bonuses and related benefits		6,683		5,843
Research and development		4,215		3,805
Research and development - manufacturing		1,017		826
Research and development - clinical supplies		—		160
Research and development - license maintenance fees		361		519
Research and development - milestones		—		200
Dr. Falk Pharma milestone		—		300
Accrued royalties payable		2,320		1,108
Accrued coupon expense		3,542		838
Other		6,108		1,327
Total accrued expenses	$	25,399	$	16,360

Other long-term liabilities:
Deferred rent and long-term lease abandonment charge1	$	2,136	$	5,211
Long-term note payable 2		4,990		—
Total other long-term liabilities	$	7,126	$	5,211

Note 1: As of December 31, 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 December 31, 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. Amortization of interest discount was $0.3 million for the year ended December 31, 2019.