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, 2021

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)		2021		2020


Computer equipment		3	$	739	$	663
Furniture and fixtures		5		1,387		1,199
Machinery & equipment		5		6,330		5,748
Leasehold improvements		2-15		13,134		10,580
Construction in progress ¹		N/A		1,019		499
Total property and equipment				22,609		18,689
Less: Accumulated depreciation				(8,634)		(6,766)
Property and equipment, net			$	13,975	$	11,923

Note 1:

Relates to the Mustang cell processing facility.

Fortress' depreciation expense for the three months ended September 30, 2021 and 2020 was approximately $0.7 million and $0.6 million, respectively. Fortress' depreciation expense for the nine months ended September 30, 2021 and 2020 was approximately $1.9 million and $1.7 million, respectively. Depreciation expense is recorded in both research and development expense and general and administrative expense in the unaudited condensed consolidated statement of operations.