Property and Equipment

12 Months Ended

Dec. 31, 2020

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)		2020		2019
Computer equipment		3	$	663	$	648
Furniture and fixtures		5		1,199		1,162
Machinery & equipment		5		5,748		4,594
Leasehold improvements		2-15		10,580		9,358
Construction in progress 1		N/A		499		1,157
Total property and equipment				18,689		16,919
Less: Accumulated depreciation				(6,766)		(4,486)
Property and equipment, net			$	11,923	$	12,433

Note 1: Relates to the Mustang cell processing facility.

Depreciation expenses of Fortress’ property and equipment for the years ended December 31, 2020 and 2019 was $2.3 million and $1.9 million, respectively, and was recorded in research and development, and selling, general and administrative expense in the Consolidated Statements of Operations.