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

6 Months Ended

Jun. 30, 2021

Property and Equipment

Property and Equipment

5. Property and Equipment

Fortress’ property and equipment consisted of the following:


	Useful Life		June 30,		December 31,
($ in thousands)	(Years)		2021		2020

	(Unaudited)
Computer equipment		3	$	663	$	663
Furniture and fixtures		5		1,211		1,199
Machinery & equipment		5		6,295		5,748
Leasehold improvements		2-15		10,580		10,580
Construction in progress ¹		N/A		2,355		499
Total property and equipment				21,104		18,689
Less: Accumulated depreciation				(7,978)		(6,766)
Property and equipment, net			$	13,126	$	11,923

Note 1:

Relates to the Mustang cell processing facility.

Fortress' depreciation expense for the three months ended June 30, 2021 and 2020 was approximately $0.6 million and $0.6 million, respectively, and was recorded in both research and development expense and general and administrative expense in the condensed consolidated statement of operations.

Fortress' depreciation expense for the six months ended June 30, 2021 and 2020 was approximately $1.2 million and $1.1 million, respectively, and was recorded in both research and development expense and general and administrative expense in the condensed consolidated statement of operations.