Fortress Biotech, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2022

Property and Equipment

Property and Equipment

5. Property and Equipment

Fortress’ property and equipment consisted of the following:


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


Computer equipment		3	$	739	$	739
Furniture and fixtures		5		1,387		1,387
Machinery & equipment		5		8,632		6,550
Leasehold improvements		2-15		13,175		13,175
Buildings		40		581		581
Construction in progress ¹		N/A		952		2,028
Total property and equipment				25,466		24,460
Less: Accumulated depreciation				(12,446)		(9,394)
Property, plant and equipment, net			$	13,020	$	15,066

Note 1: Relates to the Mustang cell processing facility.

Depreciation expenses of Fortress’ property and equipment for the years ended December 31, 2022 and 2021 was $3.1 million and $2.6 million, respectively, and was recorded in research and development, and selling, general and administrative expense in the Consolidated Statements of Operations.