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

Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment

Property, Plant and Equipment

5. Property, Plant and Equipment

Fortress’ property, plant and equipment consisted of the following:


	Useful Life		June 30,		December 31,
($ in thousands)	(Years)		2022		2021


Computer equipment		3	$	744	$	739
Furniture and fixtures		5		1,387		1,387
Machinery & equipment		5		7,486		6,550
Leasehold improvements		2-15		13,175		13,175
Buildings		40		581		581
Construction in progress ¹		N/A		1,537		2,028
Total property and equipment				24,910		24,460
Less: Accumulated depreciation				(10,889)		(9,394)
Property, plant and equipment, net			$	14,021	$	15,066

Note 1:

Relates to the Mustang cell processing facility.

Fortress' depreciation expense for the three months ended June 30, 2022 and 2021 was approximately $0.8 million and $0.6 million, respectively, and for the six months ended June 30, 2022 and 2021 was approximately $1.5 million and $1.2 million, respectively. Fortress’ depreciation expense is recorded in both research and development expense and general and administrative expense in the condensed consolidated statement of operations.