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

9 Months Ended

Sep. 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		September 30,		December 31,
($ in thousands)	(Years)		2022		2021


Computer equipment		3	$	744	$	739
Furniture and fixtures		5		1,387		1,387
Machinery & equipment		5		8,414		6,550
Leasehold improvements		2-15		13,175		13,175
Buildings		40		581		581
Construction in progress ¹		N/A		1,095		2,028
Total property and equipment				25,396		24,460
Less: Accumulated depreciation				(11,623)		(9,394)
Property, plant and equipment, net			$	13,773	$	15,066

Note 1:

Relates to the Mustang cell processing facility.

Fortress' depreciation expense for the three months ended September 30, 2022 and 2021 was approximately $0.8 million and $0.7 million, respectively, and for the nine months ended September 30, 2022 and 2021 was approximately $2.3 million and $1.9 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.