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

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

9 Months Ended

Sep. 30, 2020

Property and Equipment

Property and Equipment

5. Property and Equipment

Fortress’ property and equipment consisted of the following:


	Useful Life		September 30,		December 31,
($ in thousands)	(Years)		2020		2019

	(Unaudited)
Computer equipment		3	$	662	$	648
Furniture and fixtures		5		1,199		1,162
Machinery & equipment		5		5,014		4,594
Leasehold improvements		5-15		10,580		9,358
Construction in progress ¹		N/A		821		1,157
Total property and equipment				18,276		16,919
Less: Accumulated depreciation				(6,162)		(4,486)
Property and equipment, net			$	12,114	$	12,433

Note 1:

Relates to the Mustang cell processing facility.

Fortress' depreciation expense for the three months ended September 30, 2020 and 2019 was approximately $0.6 million and $0.5 million, respectively, and was recorded in both research and development expense and general and administrative expense in the condensed consolidated statements of operations.

Fortress' depreciation expense for the nine months ended September 30, 2020 and 2019 was approximately $1.7 million and $1.4 million, respectively, and was recorded in both research and development expense and general and administrative expense in the condensed consolidated statements of operations.