Fortress Biotech (FBIO) 10-Q16 Aug 212021 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 12, 2021
Document Information [Line Items]
Document Type	10-Q
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity File Number	001-35366
Entity Registrant Name	Fortress Biotech, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5157386
Entity Address, Address Line One	2 Gansevoort Street, 9th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10014
City Area Code	781
Local Phone Number	652-4500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001429260
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	FBIO
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		101,061,865
9.375% Series A Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	9.375% Series A Cumulative Redeemable Perpetual Preferred Stock
Trading Symbol	FBIOP
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		3,427,138

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 274,992	$ 233,351
Accounts receivable, net	26,193	23,928
Inventory	14,315	1,404
Other receivables - related party	842	744
Prepaid expenses and other current assets	4,003	6,723
Total current assets	320,345	266,150
Property and equipment, net	13,126	11,923
Operating lease right-of-use asset, net	19,731	20,487
Restricted cash	1,645	1,645
Long-term investment, at fair value	48,484	17,566
Intangible asset, net	13,701	14,629
Other assets	1,126	1,013
Total assets	418,158	333,413
Current liabilities
Accounts payable and accrued expenses	59,906	45,389
Deferred revenue	4,800	0
Operating lease liabilities, short-term	2,035	1,849
Partner company installment payments - licenses, short-term (net of imputed interest of $639 and $778 at June 30, 2021 and December 31, 2020, respectively)	3,861	4,522
Total current liabilities	70,602	51,760
Notes payable, long-term (net of debt discount of $7,737 and $8,323 at June 30, 2021 and December 31, 2020, respectively)	52,263	51,677
Operating lease liabilities, long-term	21,906	22,891
Partner company installment payments - licenses, long-term (net of imputed interest of $565 and $863 at June 30, 2021 and December 31, 2020, respectively)	6,435	8,137
Partner company convertible preferred shares (net of debt discount of $1,824 at June 30, 2021)	12,508	0
Partner company derivative warrant liabilities	4,287	0
Other long-term liabilities	1,856	1,949
Total liabilities	169,857	136,414
Commitments and contingencies
Stockholders' equity
Cumulative redeemable perpetual preferred stock, $.001 par value, 15,000,000 authorized, 5,000,000 designated Series A shares, 3,427,138 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively, liquidation value of $25.00 per share	3	3
Common stock, $.001 par value, 170,000,000 shares authorized, 97,495,244 shares issued and outstanding as of June 30, 2021; 150,000,000 shares authorized, 94,877,492 shares issued and outstanding as of December 31, 2021, respectively	97	95
Common stock issuable, 78,671 and 0 shares as of June 30, 2021 and December 31, 2020, respectively	263	0
Additional paid-in-capital	603,035	583,000
Accumulated deficit	(495,117)	(482,760)
Total stockholders' equity attributed to the Company	108,281	100,338
Non-controlling interests	140,020	96,661
Total stockholders' equity	248,301	196,999
Total liabilities and stockholders' equity	$ 418,158	$ 333,413

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Imputed interest related to partner company installment payments - licenses, Current	$ 639	$ 778
Imputed interest related to partner company installment payments - licenses, Noncurrent	7,737	8,323
Net of debt discount	$ 565	$ 863
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	15,000,000	15,000,000
Preferred Stock shares designated	5,000,000	5,000,000
Preferred Stock, shares issued	3,427,138	3,427,138
Preferred Stock, shares outstanding	3,427,138	3,427,138
Preferred Stock, liquidation preference per share	$ 25	$ 25
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	170,000,000	150,000,000
Common Stock, shares issued	97,495,244	94,877,492
Common Stock, shares outstanding	97,495,244	94,877,492
Common Stock, Shares Subscribed but Unissued	78,671	0
Convertible preferred shares
Net of debt discount	$ 1,824

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue
Product revenue, net	$ 15,288	$ 9,415	$ 26,007	$ 21,361
Collaboration revenue	2,400	0	3,200	0
Revenue - related party	155	42	223	1,014
Net revenue	17,843	9,457	29,430	22,375
Operating expenses
Cost of goods sold - product revenue	7,484	3,124	11,392	6,934
Research and development	22,831	15,703	42,859	30,570
Research and development - licenses acquired	11,003	1,570	11,129	1,820
Selling, general and administrative	19,382	14,456	36,924	29,975
Total operating expenses	60,700	34,853	102,304	69,299
Loss from operations	(42,857)	(25,396)	(72,874)	(46,924)
Other income (expense)
Interest income	146	336	373	963
Interest expense and financing fee	(2,760)	(3,059)	(4,949)	(6,184)
Change in fair value of investments	25,005	0	30,918	0
Change in fair value of derivative liability	(3,925)	(344)	(3,925)	(386)
Total other income (expense)	18,466	(3,067)	22,417	(5,607)
Net loss	(24,391)	(28,463)	(50,457)	(52,531)
Less: net loss attributable to non-controlling interests	20,856	15,149	38,100	26,847
Net loss attributable to common stockholders	$ (3,535)	$ (13,314)	$ (12,357)	$ (25,684)
Net loss per common share - basic and diluted	$ (0.30)	$ (0.42)	$ (0.62)	$ (0.80)
Net loss per common share attributable to non - controlling interests - basic and diluted	(0.26)	(0.22)	(0.47)	(0.41)
Net loss per common share attributable to common stockholders - basic and diluted	$ (0.04)	$ (0.19)	$ (0.15)	$ (0.39)
Weighted average common shares outstanding - basic and diluted	80,962,994	68,550,494	80,907,671	66,023,367

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Series A Perpetual Preferred Stock [Member]	Common Stock [Member]	Shares Issuable [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Non-Controlling Interests [Member]	Total
Balance at Dec. 31, 2019	$ 1	$ 74	$ 500		$ 461,874	$ (436,234)	$ 46,317	$ 72,532
Balance (in shares) at Dec. 31, 2019	1,341,167	74,027,425
Stock-based compensation expense					7,148			7,148
Issuance of common stock related to equity plans		$ 2			(2)
Issuance of common stock related to equity plans (in shares)		2,038,431
Issuance of common stock under ESPP					90			90
Issuance of common stock under ESPP (in shares)		53,268
Preferred A dividends declared and paid					(2,788)			(2,788)
Partner company's at-the-market offering, net					10,447			10,447
Issuance of common stock for at-the-market offering, net		$ 10			22,073			22,083
Issuance of common stock for at-the-market offering, net (in shares)		9,314,020
Repurchase of Series A preferred stock, net				$ (70)	(2)			(72)
Repurchase of Series A preferred stock (in shares)	(5,000)
Retirement of Series A preferred stock				70	(70)
Issuance of Series A preferred stock for cash, net	$ 2				23,501			23,503
Issuance of Series A preferred stock for cash, net (in shares)	1,357,639
Partner company's offering, net					34,924			34,924
Partner company's exercise of warrants for cash					13			13
Partner company's ESPP					169			169
Issuance of partner company's common shares for research and development expenses					21			21
Common shares issued for 2017 Subordinated Note Financing interest expense			(500)		1,006			506
Common shares issued for 2017 Subordinated Note Financing interest expense (in shares)		680,187
Common shares issuable for 2017 Subordinated Note Financing interest expense			500					500
Common shares issuable for 2019 Notes interest expense			313					313
Non-controlling interest in subsidiaries/partner companies					(36,911)		36,911
Net loss attributable to non-controlling interest							(26,847)	(26,847)
Net loss attributable to common stockholders						(25,684)		(25,684)
Balance at Jun. 30, 2020	$ 3	$ 86	813		521,493	(461,918)	56,381	116,858
Balance (in shares) at Jun. 30, 2020	2,693,806	86,113,331
Balance at Mar. 31, 2020	$ 2	$ 79	661	(70)	485,160	(448,604)	38,057	75,285
Balance (in shares) at Mar. 31, 2020	2,054,917	78,572,169
Stock-based compensation expense					3,748			3,748
Issuance of common stock related to equity plans (in shares)		86,024
Issuance of common stock under ESPP					90			90
Issuance of common stock under ESPP (in shares)		53,268
Preferred A dividends declared and paid					(1,581)			(1,581)
Partner company's at-the-market offering, net					5,537			5,537
Issuance of common stock for at-the-market offering, net		$ 7			16,196			16,203
Issuance of common stock for at-the-market offering, net (in shares)		6,973,020
Retirement of Series A preferred stock				$ 70	(70)
Issuance of Series A preferred stock for cash, net	$ 1				10,435			10,436
Issuance of Series A preferred stock for cash, net (in shares)	638,889
Partner company's offering, net					34,924			34,924
Issuance of partner company's common shares for research and development expenses					21			21
Common shares issued for 2017 Subordinated Note Financing interest expense			(506)		506
Common shares issued for 2017 Subordinated Note Financing interest expense (in shares)		428,850
Common shares issuable for 2017 Subordinated Note Financing interest expense			500					500
Common shares issuable for 2019 Notes interest expense			158					158
Non-controlling interest in subsidiaries/partner companies					(33,473)		33,473
Net loss attributable to non-controlling interest							(15,149)	(15,149)
Net loss attributable to common stockholders						(13,314)		(13,314)
Balance at Jun. 30, 2020	$ 3	$ 86	813		521,493	(461,918)	56,381	116,858
Balance (in shares) at Jun. 30, 2020	2,693,806	86,113,331
Balance at Dec. 31, 2020	$ 3	$ 95			583,000	(482,760)	96,661	196,999
Balance (in shares) at Dec. 31, 2020	3,427,138	94,877,492
Stock-based compensation expense					8,123			8,123
Issuance of common stock related to equity plans		$ 2			(2)
Issuance of common stock related to equity plans (in shares)		2,558,645
Issuance of common stock under ESPP					137			137
Issuance of common stock under ESPP (in shares)		59,107
Preferred A dividends declared and paid					(4,015)			(4,015)
Partner company's at-the-market offering, net					97,332			97,332
Partner company's exercise of options for cash					7			7
Issuance of common stock under partner company's ESPP					158			158
Partner company's dividends declared and paid					(375)			(375)
Issuance of partner company's common shares for research and development expenses					129			129
Common shares issuable for dividend on partner company's convertible preferred shares			263					263
Non-controlling interest in subsidiaries/partner companies					(81,459)		81,459
Net loss attributable to non-controlling interest							(38,100)	(38,100)
Net loss attributable to common stockholders						(12,357)		(12,357)
Balance at Jun. 30, 2021	$ 3	$ 97	263		603,035	(495,117)	140,020	248,301
Balance (in shares) at Jun. 30, 2021	3,427,138	97,495,244
Balance at Mar. 31, 2021	$ 3	$ 97			597,384	(491,582)	138,323	244,225
Balance (in shares) at Mar. 31, 2021	3,427,138	97,263,054
Stock-based compensation expense					4,350			4,350
Issuance of common stock related to equity plans (in shares)		173,083
Issuance of common stock under ESPP					137			137
Issuance of common stock under ESPP (in shares)		59,107
Preferred A dividends declared and paid					(2,008)			(2,008)
Partner company's at-the-market offering, net					25,910			25,910
Partner company's dividends declared and paid					(188)			(188)
Issuance of partner companies' common shares for research and development expenses					3			3
Common shares issuable for dividend on partner company's convertible preferred shares			263					263
Non-controlling interest in subsidiaries/partner companies					(22,553)		22,553
Net loss attributable to non-controlling interest							(20,856)	(20,856)
Net loss attributable to common stockholders						(3,535)		(3,535)
Balance at Jun. 30, 2021	$ 3	$ 97	$ 263		$ 603,035	$ (495,117)	$ 140,020	$ 248,301
Balance (in shares) at Jun. 30, 2021	3,427,138	97,495,244

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities:
Net loss	$ (50,457)	$ (52,531)
Reconciliation of net loss to net cash used in operating activities:
Depreciation expense	1,212	1,103
Bad debt (reserve) expense	(57)	76
Amortization of debt discount	903	1,407
Non-cash interest	441	305
Amortization of product revenue license fee	1,325	710
Amortization of operating lease right-of-use assets	837	804
Stock-based compensation expense	8,123	7,148
Issuance of partner company's common shares for research and development expenses	129	21
Common shares issuable for dividend on partner company's convertible preferred shares	263	0
Common shares issuable for 2017 Subordinated Note Financing interest expense	0	500
Common shares issued for 2017 Subordinated Note Financing interest expense	0	506
Common shares issuable for 2019 Notes interest expense	0	313
Change in fair value of investment	(30,918)	0
Change in fair value of derivative liability	3,925	386
Research and development-licenses acquired, expense	11,000	1,799
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:
Accounts receivable	(2,208)	2,290
Inventory	(12,911)	(352)
Other receivables - related party	(98)	(71)
Prepaid expenses and other current assets	2,795	930
Other assets	(113)	(192)
Accounts payable and accrued expenses	5,834	(3,882)
Interest payable	0	51
Interest payable - related party	0	(40)
Deferred revenue	4,800	0
Lease liabilities	(880)	(492)
Other long-term liabilities	(93)	(93)
Net cash used in operating activities	(56,148)	(39,304)
Cash Flows from Investing Activities:
Purchase of research and development licenses	(2,750)	(1,090)
Purchase of property and equipment	(2,148)	(1,749)
Purchase of intangible asset	(400)	0
Net cash used in investing activities	(5,298)	(2,839)
Cash Flows from Financing Activities:
Payment of Series A perpetual preferred stock dividends	(4,015)	(2,788)
Purchase of treasury stock	0	(70)
Payment of costs related to purchase of treasury stock	0	(2)
Proceeds from issuance of Series A perpetual preferred stock	0	25,875
Payment of costs related to issuance of Series A perpetual preferred stock	0	(2,283)
Proceeds from issuance of common stock for at-the-market offering	0	23,026
Payment of costs related to issuance of common stock for at-the-market offering	0	(793)
Proceeds from issuance of common stock under ESPP	137	90
Proceeds from partner companies' ESPP	158	169
Partner company's dividends declared and paid	(375)	0
Proceeds from partner companies' sale of stock	0	37,230
Payment of costs related to partner companies' sale of stock	0	(2,303)
Proceeds from partner companies' at-the-market offering	99,384	10,689
Payment of costs related to partner companies' at-the-market offering	(2,136)	(242)
Payment of costs related to partner company's preferred stock offering	(13)	0
Proceeds from exercise of partner company's warrants	0	13
Proceeds from exercise of partner company's options	7	0
Repayment of partner company installment payments - licenses	(2,800)	0
Proceeds from partner company convertible preferred shares	14,332	0
Payment of debt issuance costs associated with partner company convertible preferred shares	(1,532)	0
Net cash provided by financing activities	103,087	88,563
Net increase in cash and cash equivalents and restricted cash	41,641	46,420
Cash and cash equivalents and restricted cash at beginning of period	234,996	153,432
Cash and cash equivalents and restricted cash at end of period	276,637	199,852
Supplemental disclosure of cash flow information:
Cash paid for interest	3,339	3,165
Cash paid for tax	504	0
Supplemental disclosure of non-cash financing and investing activities:
Settlement of restricted stock units into common stock	2	2
Common shares issued from 2017 Subordinated Note Financing interest expense	0	500
Unpaid fixed assets	298	127
Unpaid debt offering cost	0	61
Unpaid partner company's debt offering cost	200	0
Unpaid partner company's deferred offering cost	75	72
Partner company derivative warrant liability associated with partner company convertible preferred shares	362	0
Unpaid at-the-market offering cost	0	156
Unpaid Series A perpetual preferred stock offering cost	0	92
Unpaid research and development licenses acquired	8,250	1,300
Lease liabilities arising from obtaining right-of-use assets	81	0
2017 Subordinated Note Financing [Member]
Cash Flows from Financing Activities:
Payment of debt issuance costs	0	(26)
Oaktree Note [Member]
Reconciliation of net loss to net cash used in operating activities:
Amortization of debt discount	4,400
Cash Flows from Financing Activities:
Payment of debt issuance costs	(60)	0
2018 Venture Notes [Member]
Cash Flows from Financing Activities:
Payment of debt issuance costs	$ 0	$ (22)

Organization and Description of

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2021
Organization and Description of Business
Organization and Description of Business	1. Organization and Description of Business Fortress Biotech, Inc. (“Fortress” or the “Company”) is a biopharmaceutical company dedicated to acquiring, developing and commercializing pharmaceutical and biotechnology products and product candidates, which the Company does at the Fortress level, at its majority-owned and majority-controlled subsidiaries and joint ventures, and at entities the Company founded and in which it maintains significant minority ownership positions. Fortress has a talented and experienced business development team, comprised of scientists, doctors and finance professionals, who identify and evaluate promising products and product candidates for potential acquisition by new or existing partner companies. Fortress through its partner companies has executed such arrangements in partnership with some of the world’s foremost universities, research institutes and pharmaceutical companies, including City of Hope National Medical Center, Fred Hutchinson Cancer Research Center, St. Jude Children’s Research Hospital, Dana-Farber Cancer Institute, Nationwide Children’s Hospital, Cincinnati Children’s Hospital Medical Center, Columbia University, the University of Pennsylvania, AstraZeneca plc and Dr. Reddy’s Laboratories, Ltd. Following the exclusive license or other acquisition of the intellectual property underpinning a product or product candidate, Fortress leverages its business, scientific, regulatory, legal and financial expertise to help the partners achieve their goals. Partner companies then assess a broad range of strategic arrangements to accelerate and provide additional funding to support research and development, including joint ventures, partnerships, out-licensings, and public and private financings. To date, three partner companies are publicly-traded, and three have consummated strategic partnerships with industry leaders Alexion Pharmaceuticals, Inc., InvaGen Pharmaceuticals, Inc. (“InvaGen”) (a subsidiary of Cipla Limited) and Sentynl Therapeutics, Inc. (“Sentynl”). Several of our partner companies possess licenses to product candidate intellectual property, including Aevitas Therapeutics, Inc. (“Aevitas”), Avenue Therapeutics, Inc. (“Avenue”), Baergic Bio, Inc. (“Baergic”), Caelum Biosciences, Inc. (“Caelum”), Cellvation, Inc. (“Cellvation”), Checkpoint Therapeutics, Inc. (“Checkpoint”), Cyprium Therapeutics, Inc. (“Cyprium”), FBIO Acquisition Corp. VIII, Helocyte, Inc. (“Helocyte”), Journey Medical Corporation (“Journey” or “JMC”), Mustang Bio, Inc. (“Mustang”) and Oncogenuity, Inc. (“Oncogenuity”). Liquidity and Capital Resources Since inception, the Company’s operations have been financed primarily through the sale of equity and debt securities, from the sale of partner companies, and the proceeds from the exercise of warrants and stock options. The Company has incurred losses from operations and negative cash flows from operating activities since inception and expects to continue to incur substantial losses for the next several years as it continues to fully develop and prepare regulatory filings and obtain regulatory approvals for its existing and new product candidates. The Company’s current cash and cash equivalents are sufficient to fund operations for at least the next 12 months. However, the Company will need to raise additional funding through strategic relationships, public or private equity or debt financings, sale of a partner company, grants or other arrangements to fully develop and prepare regulatory filings and obtain regulatory approvals for the existing and new product candidates, fund operating losses, and, if deemed appropriate, establish or secure through third parties manufacturing for the potential products, sales and marketing capabilities. If such funding is not available or not available on terms acceptable to the Company, the Company’s current development plan and plans for expansion of its general and administrative infrastructure may be curtailed. The Company also has the ability, subject to limitations imposed by Rule 144 of the Securities Act of 1933 and other applicable laws and regulations, to raise money from the sale of common stock of the public companies in which it has ownership positions. In addition to the foregoing, the Company does not expect any material impact on its development timelines, revenue levels and its liquidity due to the worldwide spread of COVID-19. However, the Company is continuing to assess the impact the spread of COVID-19 may have on its operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2021
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The unaudited condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the unaudited condensed consolidated financial statements have read or have access to the audited financial statements for the preceding fiscal year for each of Avenue, Checkpoint and Mustang. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Form 10-K, which was filed with the United States Securities and Exchange Commission (“SEC”) on March 31, 2021, from which the Company derived the balance sheet data at December 31, 2020, as well as Checkpoint’s Form 10-K, filed with the SEC on March 12, 2021, Mustang’s Form 10-K, filed with the SEC on March 24, 2021, and Avenue’s Form 10-K, filed with the SEC on March 31, 2021. The Company’s unaudited condensed consolidated financial statements include the accounts of the Company’s subsidiaries. For consolidated entities where the Company owns less than 100% of the subsidiary, the Company records net loss attributable to non-controlling interests in its consolidated statements of operations equal to the percentage of the economic or ownership interest retained in such entities by the respective non-controlling parties. The Company also consolidates subsidiaries in which it owns less than 50% of the subsidiary but maintains voting control. The Company continually assesses whether changes to existing relationships or future transactions may result in the consolidation or deconsolidation of partner companies. The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Use of Estimates The Company’s unaudited condensed consolidated financial statements include certain amounts that are based on management’s best estimates and judgments. The Company’s significant estimates include, but are not limited to, useful lives assigned to long-lived assets, fair value of stock options and warrants, stock-based compensation, common stock issued to acquire licenses, investments, accrued expenses, provisions for income taxes, and contingencies. Due to the uncertainty inherent in such estimates, actual results may differ from these estimates. Restricted Cash The Company records cash held in trust or pledged to secure certain debt obligations as restricted cash. As of June 30, 2021, the Company had $1.6 million of restricted cash representing pledges to secure letters of credit in connection with certain office leases. As of June 30, 2020, the Company had $16.6 million of restricted cash collateralizing a note payable of $15.0 million and $1.6 million in certain pledges to secure letters of credit in connection with certain office leases. The following table provides a reconciliation of cash, cash equivalents, and restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows at June 30, 2021, and 2020: June 30, 2021 2020 Cash and cash equivalents $ 274,992 $ 183,278 Restricted cash 1,645 16,574 Total cash and cash equivalents and restricted cash $ 276,637 $ 199,852 Collaboration Revenue Our collaboration revenue includes service revenue, license fees and future contingent milestone based payments. We recognize collaboration revenue for contracted R&D services performed for our customers over time. We measure our progress using an input method based on the effort we expend or costs we incur toward the satisfaction of our performance obligation. We estimate the amount of effort we expend, including the time it will take us to complete the activities, or the costs we may incur in a given period, relative to the estimated total effort or costs to satisfy the performance obligation. This results in a percentage that we multiply by the transaction price to determine the amount of revenue we recognize each period. This approach requires us to make estimates and use judgement. If our estimates or judgements change over the course of the collaboration, they may affect the timing and amount of revenue that we recognize in the current and future periods. Reclassifications Certain comparative figures have been reclassified to conform to the current year presentation. The Company reclassified certain return reserves related to accounts receivable balances of $4.6 million from accounts receivable to current liabilities on the condensed consolidated balance sheet at December 31, 2020. This reclassification was deemed to be immaterial. Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the 2020 Annual Report, other than the accounting for inventory, partner company convertible preferred shares and sequencing. Inventories Inventories comprise raw materials and finished goods, which are valued at the lower of cost and net realizable value, on a first-in, first-out basis. The Company evaluates the carrying value of inventories on a regular basis, taking into account anticipated future sales compared with quantities on hand, and the remaining shelf life of goods on hand. Partner Company Convertible Preferred Shares The Journey 8% Cumulative Convertible Class A Preferred Stock (“Journey Preferred Stock”) includes settlement features that result in liability classification. The initial carrying value of the Journey Preferred Stock is accreted to the expected settlement value, a fixed monetary amount to be settled by issuing a variable number of Journey common shares. The discount to the settlement value is accreted to interest expense using the effective interest method. Sequencing On March 31, 2021, the Company adopted a sequencing policy under accounting Standards Codification (“ASC”) 815-40-35 Derivatives and Hedging Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Recently Issued Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, “ Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ,” which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption will be permitted. The Company is currently evaluating the impact of this standard on its financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses” . The ASU sets forth a “current expected credit loss” (CECL) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. Recently, the FASB issued the final ASU to delay adoption for smaller reporting companies to calendar year 2023. The Company is currently assessing the impact of the adoption of this ASU on its condensed consolidated financial statements.

Collaboration and Stock Purchas

Collaboration and Stock Purchase Agreements	6 Months Ended
Collaboration and Stock Purchase Agreements	Jun. 30, 2021
Collaboration and Stock Purchase Agreements
Collaboration and Stock Purchase Agreements	3. Collaboration and Stock Purchase Agreements Cyprium Agreement with Sentynl Therapeutics, Inc. (“Sentynl”) On February 24, 2021, Cyprium entered into a development and contingent asset purchase agreement with Sentynl. Pursuant to the terms of the agreement, Sentynl paid Cyprium an upfront fee of $8.0 million specifically earmarked to complete the CUTX-101 development program for the treatment of Menkes disease, through the filing of Cyprium’s New Drug Application (“NDA”) with the U.S. Food and Drug Administration (“FDA”). As further compensation, Cyprium will receive an additional $12.0 million to be paid as follows: (i) $3.0 million upon NDA acceptance by the FDA and (ii) $9.0 million upon FDA approval of the NDA and transfer of CUTX-101 to Sentynl. The Company will recognize revenue associated with these future milestones based upon achievement. At June 30, 2021, none of these future milestones were deemed probable. Following the transfer of CUTX-101 to Sentynl, Cyprium is eligible to earn up to $255.0 million pursuant to five potential sales milestones, in addition to royalties on CUTX-101 net sales ranging from mid-single digits up to the mid-twenties. Cyprium will retain 100% ownership over any FDA Priority Review Voucher that may be issued at NDA approval for CUTX-101. The Company determined that this agreement falls within the scope of ASC 606-10-15-3 Revenue from Contracts with Customers ASC 808-10-15-5A Revenue from Collaborative Arrangements In connection with the $8.0 million upfront payment to Sentynl, the Company will recognize revenue using an input method based upon the costs incurred to date in relation to the total estimated costs to complete the development activities. Accordingly, the Company will recognize revenue over the period in which the development activities are expected to occur. For the three and six months ended June 30, 2021, the Company recognized revenue of $2.4 million and $3.2 million, respectively. No revenue was recognized in connection with this agreement in 2020. Avenue Agreement with InvaGen On November 12, 2018, Avenue entered into a Stock Purchase and Merger Agreement (the “Avenue SPMA”) with InvaGen Pharmaceuticals Inc. (“InvaGen”), and Madison Pharmaceuticals Inc. (the “Merger Sub”), under which Avenue would be sold to InvaGen in a two-stage transaction. The first stage of the strategic transaction between InvaGen and Avenue closed in February 2019. InvaGen acquired approximately 5.8 million shares of Avenue’s common stock at $6.00 per share for total gross consideration of $35.0 million, representing a 33.3% stake in Avenue’s capital stock on a fully diluted basis (the “Stock Purchase Transaction”). At the second stage closing, InvaGen would acquire the remaining shares of Avenue’s common stock, for $180 million, pursuant to a reverse triangular merger (the “Merger Transaction’). Consummation of the Merger Transaction is conditioned upon, among other things, U.S. Federal Drug Administration (“FDA”) approval of IV Tramadol, its labeling and scheduling, and the absence of certain other restrictions in effect with respect to IV Tramadol. Pursuant to the Avenue SPMA, if FDA approval of IV Tramadol was not obtained on or before April 30, 2021, InvaGen would not be subject to the mandatory closing obligations set forth in the Avenue SPMA with respect to the Merger Transaction. As of the date of this report, Avenue has not received approval from the FDA for IV Tramadol. As a result, InvaGen is no longer subject to the mandatory closing obligations under the Avenue SPMA, but retains an option to complete the Merger Transaction until October 31, 2021, and also retains the option to terminate the Avenue SPMA. In the event that InvaGen does not exercise its right to terminate the Avenue SPMA, certain restrictions relating to Avenue’s ability to raise capital and explore strategic alternatives, among other things, could exist through October 31, 2021, the time at which Avenue can choose to terminate the Avenue SPMA. In the event of termination of the Avenue SPMA, InvaGen will retain certain other rights pursuant to the Stockholder’s Agreement entered into on November 12, 2018 between Avenue and InvaGen. These rights exist as long as InvaGen maintains at least 75% of the common shares acquired in the Stock Purchase Transaction, and include, among other things, the right to restrict Avenue from certain equity issuances and changes to Avenue’s capital stock without obtaining InvaGen’s prior written consent. Subject to the terms and conditions described in the Avenue SPMA, InvaGen may also (in its sole discretion) provide interim financing to Avenue in an amount of up to $7.0 million during the time period between the Stock Purchase Transaction (which occurred on February 8, 2019) and the Merger Transaction. Any amounts drawn on the interim financing would be deducted from the aggregate consideration payable to the Avenue stockholders by virtue of the Merger Transaction. To date, InvaGen has not provided the Company with this interim financing. Over the past several months, Avenue has communicated with InvaGen relating to InvaGen’s assertions that Material Adverse Effects (as defined in the Avenue SPMA) have occurred due to the impact of the COVID-19 pandemic on potential commercialization and projected sales of IV Tramadol. Additionally, in connection with the resubmission of Avenue’s NDA in February 2021, InvaGen communicated to Avenue that it believes the proposed label for IV Tramadol would also constitute a Material Adverse Effect (as defined in the Avenue SPMA) on the purported basis that the proposed label under certain circumstances would make the product commercially unviable. InvaGen has communicated to Avenue its desire to consider all options on the proposed merger, including the option to not consummate the merger. Since Avenue did not receive FDA approval for IV Tramadol by April 30, 2021, these assertions have no impact as to whether InvaGen is obligated to close the Avenue SPMA, because, as discussed above, InvaGen no longer has such an obligation. As a result, the possible timing and likelihood of the completion of the merger are uncertain. There can be no assurance that the Merger Transaction will be completed on the expected terms, anticipated schedule, or at all. It is also possible InvaGen could attempt to pursue monetary claims against Avenue and/or Fortress. Avenue is not yet generating revenue, has incurred substantial operating losses since its inception and expects to continue to incur significant operating losses for the foreseeable future as it executes on its product development plan and may never become profitable. As of June 30, 2021, Avenue had an accumulated deficit of $75.2 million. On October 12, 2020, Avenue announced that it had received a Complete Response Letter (“the First CRL”) from the FDA regarding Avenue’s NDA for IV Tramadol. The First CRL cited deficiencies related to the terminal sterilization validation and stated that IV Tramadol, intended to treat patients in acute pain who require an opioid, is not safe for the intended patient population. On February 12, 2021, Avenue resubmitted its NDA to the FDA for IV Tramadol. The NDA resubmission followed the receipt of official minutes from a Type A meeting with the FDA. The resubmission included revised language relating to the proposed product label and a report relating to terminal sterilization validation. On June 14, 2021, Avenue announced that it had received a second Complete Response Letter (the “Second CRL”) from the FDA regarding Avenue’s NDA for IV tramadol. The Second CRL stated that the delayed and unpredictable onset of analgesia with IV tramadol does not support its benefit as a monotherapy to treat patients in acute pain and that there is insufficient information to support that IV tramadol in combination with other analgesics is safe and effective for the intended patient population. In particular, the Second CRL stated that, while the primary endpoint was met in two efficacy studies, meaningful pain relief was delayed (accounting for the use of rescue medication, e.g., ibuprofen), and some patients never achieved pain relief. Avenue continues to pursue regulatory approval for IV Tramadol and had a Type A meeting with the FDA in July 2021. The FDA did not deviate from any of the positions the FDA previously took in the First CRL and the Second CRL. Avenue submitted a formal dispute resolution request (“FDRR”) with the FDA on July 27, 2021. The FDRR has been forwarded to the Office of Neuroscience for review, which office has indicated to Avenue that a response will be provided by August 26, 2021. Avenue’s ability to potentially commercialize IV Tramadol, and the timing of any potential commercialization, are dependent on the FDA’s review of the FDRR for IV Tramadol, whether or not the FDA ultimately approves IV Tramadol, and potentially on whether or not Avenue procures additional capital. As of June 30, 2021, Avenue had cash and cash equivalents of $1.1 million. In the event that IV Tramadol is approved by the FDA, this triggers an obligation by Avenue to make $5.0 million in contractual milestone payments, for which Avenue currently does not have sufficient funding. In the event that IV Tramadol is not approved by the FDA, Avenue believes that its cash and cash equivalents should be sufficient to fund its operating expenses only into the third quarter of 2021. Avenue will need to secure additional funds through equity or debt offerings, or other potential sources. Avenue cannot be certain that additional funding will be available on acceptable terms, or at all. These factors individually and collectively raise substantial doubt about Avenue’s ability to continue as a going concern within one year from the date of this report. In light of the foregoing, it may be necessary at some point for Avenue to seek protection under Chapter 11 of the United States Bankruptcy Code, which could have a material adverse impact on Avenue’s business, financial condition, operations and could place its shareholders at significant risk of losing all of their investment. In any such Chapter 11 proceeding, may seek to restructure its obligations or commence an orderly wind-down of its operations and sale of its assets, in either event, holders of equity interests could receive or retain little or no recovery. We also note that the process of exploring refinancing or restructuring alternatives, including those under Chapter 11, may be disruptive to business and operations.

Inventory

Inventory	6 Months Ended
Inventory	Jun. 30, 2021
Inventory
Inventory	4. Inventory Inventory consisted of the following: June 30, December 31, ($ in thousands) 2021 2020 Raw materials $ 4,907 $ — Work-in-process — — Finished goods 9,408 1,404 Total inventories $ 14,315 $ 1,404 The acquired Qbrezxa finished goods inventory includes a fair value step-up of $5.7 million, which will be expensed within cost of sales, as the inventory is sold to customers. All of the step-up finished goods inventory is expected to be sold in 2021. For additional information on our acquisition of Qbrexza, please refer to Note 9.

Property and Equipment

Property and Equipment	6 Months Ended
Property and Equipment	Jun. 30, 2021
Property and Equipment
Property and Equipment	5. Property and Equipment Fortress’ property and equipment consisted of the following: Useful Life June 30, December 31, ($ in thousands) (Years) 2021 2020 (Unaudited) Computer equipment 3 $ 663 $ 663 Furniture and fixtures 5 1,211 1,199 Machinery & equipment 5 6,295 5,748 Leasehold improvements 2 15 10,580 10,580 Construction in progress 1 N/A 2,355 499 Total property and equipment 21,104 18,689 Less: Accumulated depreciation (7,978) (6,766) Property and equipment, net $ 13,126 $ 11,923 Note 1: Relates to the Mustang cell processing facility. Fortress' depreciation expense for the three months ended June 30, 2021 and 2020 was approximately $0.6 million and $0.6 million, respectively, and was recorded in both research and development expense and general and administrative expense in the condensed consolidated statement of operations. Fortress' depreciation expense for the six months ended June 30, 2021 and 2020 was approximately $1.2 million and $1.1 million, respectively, and was recorded in both research and development expense and general and administrative expense in the condensed consolidated statement of operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2021
Fair Value Measurements
Fair Value Measurements	6. Fair Value Measurements Certain of the Company’s financial instruments are not measured at fair value on a recurring basis but are recorded at amounts that approximate their fair value due to their liquid or short-term nature, such as accounts payable, accrued expenses and other current liabilities. Fair Value of Caelum As of June 30, 2021 and 2020, the Company valued its investment in Caelum in accordance with ASC Topic 820, Fair Value Measurements and Disclosures, Journey Warrant Liabilities Placement Agent Warrants The fair value of Journey’s Contingently Issuable Warrants in connection with Journey’s convertible preferred offering (see Note 10), was measured using a Monte Carlo simulation valuation methodology. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring Journey’s warrant liability that are categorized within Level 3 of the fair value hierarchy as of June 30, 2021 was as follows: June 30, 2021 Risk-free interest rate 0.87 % Expected dividend yield — Expected term in years 1.3 Expected volatility 50 % Probability of issuance of the warrant 70 % At June 30, 2021, the value of the placement agent warrants was deemed to be $0.5 million. Contingent Payment Warrant In connection with the DFD Agreement, see Note 7 below, Journey valued the contingent payment associated with an Initial Public Offering (“IPO”) of Journey’s common stock or a listing of Journey’s common stock on a National Exchange in connection with which Journey’s market capitalization on a fully diluted basis is $150 million at the close of business on the date of such IPO or up-listing. In the event the conditions for such contingent payment are met, Journey agreed under the DFD Agreement to: (a) issue to Dr. Reddy’s Laboratories, Ltd (“DRL”) a number of shares of Journey’s common stock equal to $5.0 million as calculated using a fifteen (15) day volume weighted average price of Journey’s closing price, measured fifteen (15) days following the IPO/up-listing, without any additional consideration (financial or otherwise) from DRL; or (b) make a cash payment to DRL equal to $5.0 million. In the event the IPO consideration as discussed above is not satisfied, and Journey or its affiliate executes a definitive agreement for an acquisition event during the period beginning on the Effective Date and ending twenty-four (24) months after the regulatory approval of DFD-29, Journey shall pay to DRL: (a) 20% of the value of DFD-29 attributable to the acquisition event, if such acquisition event occurs between closing and NDA approval; or (b) 12% of the value of DFD-29 attributable to the acquisition event, if such acquisition event occurs within 24 months after NDA approval. Journey valued this contingent payment utilizing a Probability Weighted Expected Return Method (PWERM) model. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring Journey’s derivative liability that are categorized within Level 3 of the fair value hierarchy as of June 30, 2021 was as follows: June 30, 2021 Discount rate 30 % Expected dividend yield — Expected term 3 months to 5 years Probability of outcomes 3% to 70 % At June 30, 2021 the value of the contingent payment warrant is $3.7 million, and was recorded on the condensed consolidated balance sheet. No liability was recorded at December 31, 2020. The following tables classify into the fair value hierarchy of Fortress’ financial instruments, measured at fair value as of June 30, 2021 and December 31, 2020: Fair Value Measurement as of June 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Fair value of investment in Caelum $ — $ — $ 48,484 $ 48,484 Total $ — $ — $ 48,484 $ 48,484 Fair Value Measurement as of June 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Liabilities Partner company derivative warrant liabilities $ — $ — $ 4,287 $ 4,287 Total $ — $ — $ 4,287 $ 4,287 Fair Value Measurement as of December 31, 2020 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Fair value of investment in Caelum $ — $ — $ 17,566 $ 17,566 Total $ — $ — $ 17,566 $ 17,566 The table below provides a roll-forward of the changes in fair value of Level 3 financial instruments as of June 30, 2021: Investment in ($ in thousands) Caelum Balance at December 31, 2020 $ 17,566 Change in fair value of investments 30,918 Balance at June 30, 2021 $ 48,484 Warrants ($ in thousands) liabilities Balance at December 31, 2020 $ — Additions: Journey contingent payment warrant 3,743 Journey placement agent warrant 544 Balance at June 30, 2021 $ 4,287 During the six month period ended June 30, 2021, no transfers occurred between Level 1, Level 2, and Level 3 instruments.

Licenses Acquired

Licenses Acquired	6 Months Ended
Licenses Acquired	Jun. 30, 2021
Licenses Acquired
Licenses Acquired	7. Licenses Acquired In accordance with ASC 730-10-25-1, Research and Development Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Partner companies: JMC $ 10,000 $ — $ 10,000 $ — Mustang 1,000 1,300 1,000 1,550 Aevitas 2 — 27 — Oncogenuity 1 270 1 270 FBIO Acquisition Corp VIII — — 101 — Total $ 11,003 $ 1,570 $ 11,129 $ 1,820 Journey On June 29, 2021 (the “Effective Date”), Journey entered a license, collaboration, and assignment agreement (the “DFD Agreement”) to obtain the global rights for the development and commercialization of a late-stage development modified release oral minocycline for the treatment of rosacea (“DFD-29”) with DRL. Pursuant to the terms and conditions of the DFD-29 Agreement, Journey agreed to pay an upfront payment of $10.0 million, of which $2.0 million (the “First Installment”) was paid upon execution and $8.0 million (the “Second Installment”) is payable 90 days following the Effective Date. Additional contingent regulatory and commercial milestone payments totaling up to $163.0 million are also payable. Royalties ranging from the lower double digits to the lower teen digits are payable on net sales of the DFD-29 product. Additionally, Journey is required to fund and oversee the Phase III clinical trials approximating $24.0 million, based upon the current development plan and budget. DRL may terminate the DFD Agreement in the event that Journey fails to make the Second Installment payment, in which case (subject to certain narrow exceptions) DRL’s sole remedy under the DFD Agreement would be to keep the First Installment. The DFD Agreement also includes contingent payments to be made to DRL in the event of a Journey IPO or the sale of Journey, See Note 6. Mustang For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center CD123 (MB-102) 250 334 250 334 IL13Rα2 (MB-101) $ — $ 333 $ — $ 333 HER2 (MB-103) — — — 250 PSCA (MB-105) — 333 — 333 Mayo Clinic 750 750 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) — 300 — 300 Total $ 1,000 $ 1,300 $ 1,000 $ 1,550 On April 1, 2021, Mustang entered into an exclusive license agreement with Mayo Foundation for Medical Education and Research (“Mayo Clinic”) for the use of an in-situ CAR-T technology, with the potential to be developed as an off-the-shelf technology. Pursuant to this agreement, Mustang paid an upfront fee of $0.8 million and will pay an annual maintenance fee of $25,000. Additional payments are due for each of two licensed products for the achievement of eleven development and commercial milestones totaling up to $92.6 million per product, and royalty payments in the mid-single digits are due on net sales of licensed product. For the three and six months ended June 30, 2021, the Company recorded $0.8 million in research and development expenses in the condensed consolidated statements of operations pursuant to the terms of this agreement. For the three and six months ended June 30, 2020, the Company recorded no research and development expenses in the condensed consolidated statements of operations pursuant to the terms of this agreement.

Intangibles, net

Intangibles, net	6 Months Ended
Intangibles, net	Jun. 30, 2021
Intangibles, net
Intangibles, net	9. Intangibles, net On March 31, 2021 Journey executed an Asset Purchase Agreement (the “Qbrexza APA”) with Dermira, Inc. a subsidiary of Eli Lilly and Company (“Dermira”). Pursuant to the terms of the agreement Journey acquired the rights to Qbrexza® (glycopyrronium), a prescription cloth towelette to treat primary axillary hyperhidrosis in patients nine years of age or older. Upon Hart-Scott-Rodino clearance, which was received on May 13, 2021, Journey paid the upfront fee of $12.5 million to Dermira. In addition, Dermira is eligible to receive up to $144 million in the aggregate upon the achievement of certain milestones. Royalties ranging from the lower teen digits to the upper teen digits will be payable on net sales of Qbrexza® products, of which royalty amounts are subject to 50% diminution in the event of loss of exclusivity due to the introduction of an authorized generic. Upon closing of the Qbrexza® purchase, Journey became substituted for Dermira as the plaintiff in U.S. patent litigation commenced by Dermira on October 21, 2020 in the U.S. District Court of Delaware (the “Patent Litigation”) against Perrigo Pharma International DAC (“Perrigo”) alleging infringement of certain patents covering Qbrexza® (the “Qbrexza® Patents”), which are included among the proprietary rights to Qbrexza® to be acquired pursuant to the Qbrexza APA. The Patent Litigation was initiated following the submission by Perrigo, in accordance with the procedures set out in the Drug Price Competition and Patent Term Restoration Act of 1984 (the “Hatch-Waxman Act”), of an Abbreviated New Drug Application, or ANDA. The ANDA seeks approval to market a generic version of Qbrexza® prior to the expiration of the Qbrexza® Patents and alleges that the Qbrexza® Patents are invalid. Perrigo is subject to a 30-month stay preventing it from selling a generic version, but that stay is set to expire on March 9, 2023. Trial in the Patent Litigation is scheduled for September 19, 2022. The Company cannot make any predictions about the final outcome of this matter or the timing thereof. The purchase price of $12.5 million included the asset Qbrexza as well as finished goods and raw material inventory. In accordance with ASC 805 The table below provides a summary of the Journey intangible assets as of June 30, 2021 and December 31, 2020, respectively: Estimated Useful ($ in thousands) Lives (Years) June 30, 2021 December 31, 2020 (Unaudited) Total intangible assets – asset purchases 3 to 7 $ 19,003 $ 18,606 Accumulated amortization (5,302) (3,977) Net intangible assets $ 13,701 $ 14,629 The table below provides a summary for the six months ended June 30, 2021, of Journey’s recognized expense related to its product licenses, which was recorded in costs of goods sold on the condensed consolidated statement of operations: Intangible ($ in thousands) Assets, Net Beginning balance at January 1, 2021 $ 14,629 Additions: Exelderm milestone 397 Amortization expense (1,325) Ending balance at June 30, 2021 $ 13,701 The future amortization of these intangible assets is as follows: Total ($ in thousands) Ximino® Exelderm® Accutane® Amortization Six months ending December 31, 2021 $ 509 $ 167 $ 473 $ 1,149 Year ended December 31, 2022 1,019 — 946 1,965 Year ended December 31, 2023 1,019 — 945 1,964 Year ended December 31, 2024 1,019 — 946 1,965 Year ended December 31, 2025 1,019 — 945 1,964 Thereafter 595 — 157 752 Sub-total $ 5,180 $ 167 $ 4,412 $ 9,759 Assets not yet placed in service: Anti-itch product license acquisition (amortization commencing second half of 2021) — — — 3,942 Total $ 5,180 $ 167 $ 4,412 $ 13,701

Debt and Interest

Debt and Interest	6 Months Ended
Debt and Interest	Jun. 30, 2021
Debt and Interest
Debt and Interest	10. Debt and Interest Debt Total debt consists of the following as of June 30, 2021 and December 31, 2020: June 30, December 31, ($ in thousands) 2021 2020 Interest rate Maturity (Unaudited) Total notes payable - Oaktree Note $ 60,000 $ 60,000 11.00 % August - 2025 Less: Discount on notes payable (7,737) (8,323) Total notes payable $ 52,263 $ 51,677 Oaktree Note On August 27, 2020 (the “Closing Date”), Fortress, as borrower, entered into a $60.0 million senior secured credit agreement (the “Agreement”) with Oaktree. The Oaktree Note bears interest at a fixed annual rate of 11.0%, payable quarterly and maturing on the fifth anniversary of the Closing Date, August 27, 2025, the (“Maturity Date”). The Company is required to make quarterly interest-only payments until the Maturity Date, at which point the outstanding principal amount is due. The Company may voluntarily prepay the Oaktree Note at any time subject to a Prepayment Fee as defined in the Terms section. The Company is required to make mandatory prepayments of the Oaktree Note under various circumstances as defined in the Terms section. No amounts paid or prepaid may be reborrowed without Oaktree consent. Pursuant to the terms of the Agreement on the Closing Date the Company paid Oaktree an upfront commitment fee equal to 3% of the $60.0 million, or $1.8 million. In addition, the Company paid a $35,000 Agency fee to the Agent which was due on the Closing Date and will be due annually, together with fees of $2.5 million, directly to third parties involved in the transaction. In connection with the Oaktree Note, the Company issued warrants to Oaktree and certain of its affiliates to purchase up to 1,749,450 shares of common stock (see Note 14) with a relative fair value of $4.4 million. The Company recorded the fees totaling $8.7 million ($1.8 million to Oaktree, $2.5 million of expenses paid to third-parties and $4.4 million representing the relative fair value of the Oaktree Warrants) to debt discount. These costs are being amortized over the term of the Oaktree Note. Partner Company Installment Payments – Licenses The following tables show the details of partner company installment payments – licenses for the periods presented. June 30, 2021 ($ in thousands) Ximino 1 Accutane 2 Anti-Itch Product 3 Total Partner company installment payments - licenses, short-term $ 2,000 $ 1,000 $ 1,500 $ 4,500 Less: imputed interest (517) (101) (21) (639) Sub-total partner company installment payments - licenses, short-term $ 1,483 $ 899 $ 1,479 $ 3,861 Partner company installment payments - licenses, long-term $ 5,000 $ 2,000 $ — $ 7,000 Less: imputed interest (519) (46) — (565) Sub-total partner company installment payments - licenses, long-term $ 4,481 $ 1,954 $ — $ 6,435 Total partner company installment payments - licenses $ 5,964 $ 2,853 $ 1,479 $ 10,296 December 31, 2020 ($ in thousands) Ximino 1 Accutane 2 Anti-Itch Product 3 Total Partner company installment payments - licenses, short-term $ 2,000 $ 500 $ 2,800 $ 5,300 Less: imputed interest (602) (122) (54) (778) Sub-total partner company installment payments - licenses, short-term $ 1,398 $ 378 $ 2,746 $ 4,522 Partner company installment payments - licenses, long-term $ 5,000 $ 3,000 $ 1,000 $ 9,000 Less: imputed interest (775) (88) — (863) Sub-total partner company installment payments - licenses, long-term $ 4,225 $ 2,912 $ 1,000 $ 8,137 Total partner company installment payments - licenses $ 5,623 $ 3,290 $ 3,746 $ 12,659 Note 1: Imputed interest rate of 11.96% and maturity date of July 22, 2024. Note 2: Imputed interest rate of 4.03%and maturity date of July 29, 2023. Note 3: Imputed interest rate of 4.25%and maturity date of January 1, 2022. Interest Expense The following table shows the details of interest expense for all debt arrangements during the periods presented. Interest expense includes contractual interest; fees include amortization of the debt discount and amortization of fees associated with loan transaction costs, amortized over the life of the loan. Three Months Ended June 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 85 $ — $ 85 2017 Subordinated Note Financing — — — 1,092 204 1,296 2019 Notes — — — 269 — 269 2018 Venture Notes — — — 433 186 619 LOC Fees 14 — 14 16 — 16 Mustang Horizon Notes — — — 349 270 619 Oaktree Note 1,669 324 1,993 — — — Partner company convertible preferred shares — 270 270 — — — Partner company dividend payable 263 — 263 — — — Partner company installment payments - licenses 2 220 — 220 155 — 155 Other — — — — — — Total Interest Expense and Financing Fee $ 2,166 $ 594 $ 2,760 $ 2,399 $ 660 $ 3,059 Six Months Ended June 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 169 - $ 169 2017 Subordinated Note Financing — — — 2,176 516 2,692 2019 Notes — — — 538 — 538 2018 Venture Notes — — — 866 362 1,228 LOC Fees 23 — 23 31 — 31 Mustang Horizon Notes — — — 690 529 1,219 Oaktree Note 3,319 633 3,952 — — — Partner company convertible preferred shares — 270 270 — — — Partner company dividend payable 263 — 263 — — — Partner company installment payments - licenses 2 441 — 441 305 — 305 Other — — — 2 — 2 Total Interest Expense and Financing Fee $ 4,046 $ 903 $ 4,949 $ 4,777 $ 1,407 $ 6,184 Note 1: Amortization of fees in connection with debt raises. Note 2: Imputed interest expense related to Ximino, Accutane and inti-itch cream acquisitions. Journey Working Capital Line of Credit On March 31, 2021 (the “Closing Date”), Journey entered into a Loan and Security Agreement with East West Bank (“EWB Loan”) under which Journey may request advances in aggregate not exceeding the lesser of: (i) the Revolving Line of $7.5 million and (ii) a Borrowing Base representing approximately 85% of Journey’s eligible accounts receivable. Advances bear interest on the outstanding daily balance, at a floating rate of 1.0% above the Prime Rate set by EWB. Interest is due and payable on the last day of the month. The EWB Loan matures on March 31, 2024. Journey paid an origination fee of $56,250 on the Closing Date in connection with the issuance of the EWB Loan. In addition, Journey agreed to pay certain third party fees incurred by EWB, as well as legal fees incurred by Journey in connection with the EWB Loan totaling approximately $0.1 million. As of June 30, 2021 fees totaling approximately $0.1 million were recorded as a deferred asset on the condensed consolidated balance sheet. As of June 30, 2021 Journey had no outstanding advances under the EWB Loan.

Partner Company Convertible Pre

Partner Company Convertible Preferred Shares	6 Months Ended
Partner Company Convertible Preferred Shares	Jun. 30, 2021
Partner Company Convertible Preferred Shares
Partner Company Convertible Preferred Shares	11. Partner Company Convertible Preferred Shares In March 2021, our partner company Journey commenced an offering of Journey 8% Cumulative Convertible Class A Preferred Stock (the “Journey Offering”) in an aggregate minimum amount of $12.5 million and an aggregate maximum amount of $30.0 million, which may be increased if Journey and the placement agent agree to do so. The Journey Offering commenced on March 31, 2021 and terminated on July 18, 2021. Although the Journey 8% Cumulative Convertible Class A Preferred Stock (“Journey Preferred A”) is a form of preferred stock, in substance this instrument is accounted for as a liability on the Company’s condensed consolidated balance sheet. Dividends on the Journey Preferred A will be paid quarterly in shares of the Company’s common stock based upon a 7.5% discount to the average trading price over the 10-day period preceding the dividend payment date. In addition, if the Journey Preferred A has not been converted into Journey common stock upon a sale of Journey or a qualified financing of Journey in a gross amount of at least $25.0 million within a year of the closing (extendable by another six months at Journey’s option), then the Journey Preferred A will be exchanged for shares of the Company’s common stock, also based upon a 7.5% discount to the average Company common stock trading price over the 10-day period preceding such exchange. Furthermore, the Company is obligated to file one or more registration statements covering the issuance of shares that result from such dividends/exchange. As consideration for the foregoing, Journey will issue to the Company additional shares of Journey common stock, debt securities, or a combination of the foregoing. At June 30, 2021 the Company recorded Shares Issuable of $0.3 million representing the dividend payable on June 30, 2021 to the Journey Preferred A shareholders, the payment of which was contingent upon an effective registration statement, which was effective on July 30, 2021. National Securities Corporation (“National”) was the primary placement agent for the Journey Offering and received a 10% fee on gross proceeds raised, plus either warrants to purchase 5% of the Journey common stock into which the Journey Preferred A converts (in the event of a sale of Journey or a qualified financing) or 5% of the Company common stock for which the Journey Preferred A is exchanged (in the event neither a sale of Journey nor a qualified financing occurs), in addition to reimbursement of legal and other expenses. The Company evaluated the terms of the Journey Offering under ASC 480, Distinguishing Liabilities from Equity, As of June 30, 2021, Journey completed three closings and issued an aggregate of 573,280 Journey Preferred A shares at a price of $25.00 per share, for gross proceeds of $14.3 million. Following the payment of placement agent fees of $1.4 million, and other expenses of $0.3 million, Journey received $12.6 million of net proceeds. A non-cash contingent warrant value of $0.4 million was also recorded in debt discount (see Note 6). This warrant was revalued at June 30, 2021 and the change in fair value of $0.2 million was recorded on the condensed consolidated statement of operations. The Company recorded this transaction on the condensed consolidated balance sheet as a liability of $14.3 million of partner company convertible preferred shares, which is the fair value at initial recognition, and $1.8 million of debt discount associated with the share settled debt. The initial carrying value of the Journey Preferred A is accreted to the settlement value. The discount to the settlement value is accreted to interest expense using the effective interest method. In July 2021, Journey completed two additional closings, raising a combined additional $4.6 million and paid placement agent fees of $0.5 million for net proceeds of $4.2 million.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
Accounts Payable and Accrued Expenses	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Accounts Payable and Accrued Expenses	12. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following: June 30, December 31, ($ in thousands) 2021 2020 (Unaudited) Accounts Payable $ 14,271 $ 11,412 Accrued expenses: Professional fees 1,205 1,236 Salaries, bonus and related benefits 5,207 6,701 Research and development 4,063 5,007 Research and development - manufacturing — 518 Research and development - license fees 8,000 — Research and development - license maintenance fees 627 461 Research and development - milestones 1,115 600 Accrued royalties payable 3,340 2,682 Accrued coupon expense 18,609 12,869 Income taxes payable — 136 Return reserve 2,099 2,580 Other 1,370 1,187 Total accounts payable and accrued expenses $ 59,906 $ 45,389

Non-Controlling Interests

Non-Controlling Interests	6 Months Ended
Non-Controlling Interests	Jun. 30, 2021
Non-Controlling Interests
Non-Controlling Interests	13. Non-Controlling Interests Non-controlling interests in consolidated entities are as follows: For the Six Months Ended As of June 30, 2021 June 30, 2021 As of June 30, 2021 Net loss attributable to Non-controlling interests Non-controlling ($ in thousands) NCI equity share non-controlling interests in consolidated entities ownership FBIO Acquisition Corp VIII $ (202) (96) $ (298) 32.0 % Aevitas (4,022) (567) (4,589) 46.6 % Avenue 2 2,004 (1,507) 497 77.4 % Baergic (1,916) (20) (1,936) 39.5 % Cellvation (1,356) (70) (1,426) 22.1 % Checkpoint 1 57,779 (11,643) 46,136 81.1 % Coronado SO (290) — (290) 13.0 % Cyprium (1,157) (638) (1,795) 29.8 % Helocyte (5,305) (47) (5,352) 18.3 % JMC 800 (1,182) (382) 7.2 % Mustang 2 133,046 (22,066) 110,980 82.2 % Oncogenuity (540) (264) (804) 24.9 % Tamid (721) — (721) 22.8 % Total $ 178,120 $ (38,100) $ 140,020 For the twelve months ended As of December 31, 2020 December 31, 2020 As of December 31, 2020 Net loss attributable to Non-controlling interests Non-controlling ($ in thousands) NCI equity share non-controlling interests in consolidated entities ownership FBIO Acquisition Corp VIII $ (7) (27) $ (34) 10.0 % Aevitas (2,370) (823) (3,193) 39.0 % Avenue 2 5,800 (3,974) 1,826 77.4 % Baergic (1,662) (97) (1,759) 39.5 % Cellvation (1,089) (182) (1,271) 22.1 % Checkpoint 1 41,704 (13,265) 28,439 80.4 % Coronado SO (290) — (290) 13.0 % Cyprium 567 (1,478) (911) 30.5 % Helocyte (4,986) (259) (5,245) 18.8 % JMC 138 491 629 7.1 % Mustang 2 116,060 (36,429) 79,631 80.9 % Oncogenuity (82) (376) (458) 25.3 % Tamid (663) (40) (703) 22.8 % Total $ 153,120 $ (56,459) $ 96,661 Note 1: Checkpoint is consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Checkpoint’s Class A Common Shares which provide super-majority voting rights. Note 2: Avenue and Mustang are consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Preferred Class A Shares which provide super-majority voting rights.

Net Loss per Common Share

Net Loss per Common Share	6 Months Ended
Net Loss per Common Share	Jun. 30, 2021
Net Loss per Common Share
Net Loss per Common Share	14. Net Loss per Common Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of Common Stock outstanding during the period, without consideration for Common Stock equivalents. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of Common Stock and Common Stock equivalents outstanding for the period. The following shares of potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding, as the effect of including such securities would be anti-dilutive for the three months ended June 30, 2021: Six Months Ended June 30, 2021 2020 Warrants to purchase Common Stock 4,522,654 2,784,037 Options to purchase Common Stock 828,490 1,210,502 Unvested Restricted Stock 16,389,156 14,306,355 Unvested Restricted Stock Units 215,684 458,658 Total 21,955,984 18,759,552

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2021
Stockholders' Equity
Stockholders' Equity	15. Stockholders’ Equity Stock-based Compensation The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards and warrants for the three months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Employee awards $ 1,888 $ 1,315 $ 3,376 $ 2,532 Executive awards of Fortress Companies' stock 348 366 693 767 Non-employee awards 653 51 675 105 Warrants — 65 — 65 Partner Companies: Avenue 116 216 230 431 Checkpoint 766 731 1,540 1,370 Mustang 547 957 1,543 1,762 Other 32 47 66 116 Total stock-based compensation expense $ 4,350 $ 3,748 $ 8,123 $ 7,148 For the three months ended June 30, 2021 and 2020, approximately $0.8 million and $0.9 million, respectively, of stock-based compensation expense was included in research and development expenses in connection with equity grants made to employees and consultants and approximately $3.6 million and $2.9 million, respectively, was included in general and administrative expenses in connection with grants made to employees, members of the board of directors and consultants. For the six months ended June 30, 2021 and 2020, approximately $2.0 million and $1.8 million, respectively, of stock-based compensation expense was included in research and development expenses in connection with equity grants made to employees and consultants and approximately $6.1 million and $5.4 million, respectively, was included in general and administrative expenses in connection with grants made to employees, members of the board of directors and consultants. Stock Options The following table summarizes Fortress stock option activities excluding activity related to Fortress partner companies: Weighted average Total remaining Weighted average weighted average contractual life Number of shares exercise price intrinsic value (years) Options vested and expected to vest at December 31, 2020 1,053,490 $ 5.02 $ 647,482 2.63 Forfeited (25,000) 4.88 — — Options vested and expected to vest at June 30, 2021 1,028,490 $ 5.02 $ 824,878 2.15 As of June 30, 2021, Fortress had no unrecognized stock-based compensation expense related to options. Restricted Stock and Restricted Stock Units The following table summarizes Fortress restricted stock awards and restricted stock units activities, excluding activities related to Fortress Companies: Weighted average grant Number of shares price Unvested balance at December 31, 2020 15,507,504 $ 2.49 Restricted stock granted 2,330,678 3.17 Restricted stock vested (236,668) 2.75 Restricted stock units granted 1,112,666 4.13 Restricted stock units forfeited (78,750) 3.47 Restricted stock units vested (197,917) 3.48 Unvested balance at June 30, 2021 18,437,513 $ 2.66 As of June 30, 2021 and 2020, the Company had unrecognized stock-based compensation expense related to restricted stock and restricted stock unit awards of approximately $23.5 million and $17.1 million, respectively, which is expected to be recognized over the remaining weighted-average vesting period of 3.2 years and 4.0 years, respectively. Warrants The following table summarizes Fortress warrant activities, excluding activities related to Fortress Companies: Total weighted Weighted average average remaining Number of Weighted average intrinsic contractual life shares exercise price value (years) Outstanding as of December 31, 2020 4,590,621 $ 3.17 $ 607,848 4.85 Expired (60,000) 1.37 — Forfeited (25,000) 3.00 — Outstanding as of June 30, 2021 4,505,621 $ 3.20 $ 1,958,891 4.44 Exercisable as of June 30, 2021 4,370,621 $ 3.23 $ 1,754,141 4.36 In connection with the Oaktree Note (see Note 10), the Company issued warrants to Oaktree and certain of its affiliates to purchase up to 1,749,450 shares of common stock at a purchase price of $3.20 per share (the “Oaktree Warrants”). Oaktree is entitled to additional warrants if at any time prior to the expiration of the Oaktree Warrants in event the Company issues equity, warrants or convertible notes (collectively known as “Security Instruments”) at a price that is less than 95% of the market price of the Company’s Common Stock on the trading day prior to the issuance of the Security Instruments. The Warrants expire on August 27, 2030 and may be net exercised at the holder’s election. The Company also agreed to file a registration statement on Form S-3 to register for resale the shares of common stock issuable upon exercise of the Warrants. The Company evaluated the accounting treatment of the Oaktree Warrants and determined that the Oaktree warrants met the scope exception of ASC 815-10-15-74(a) Derivatives and Hedging ASC 470-20-25-2 Debt – Debt with Conversion and Other Options Employee Stock Purchase Plan Eligible employees can purchase the Company’s Common Stock at the end of a predetermined offering period at 85% of the lower of the fair market value at the beginning or end of the offering period. The ESPP is compensatory and results in stock-based compensation expense. As of June 30, 2021, 636,408 shares have been purchased and 363,592 shares are available for future sale under the Company’s ESPP. Share-based compensation expense recorded was approximately $35,000 and $25,000, respectively, for the three months ended June 30, 2021 and 2020 Capital Raises Journey 8% Cumulative Convertible Class A Preferred Offering See Note 11. At-the-Market Offering No shares were issued pursuant to the terms of the Company’s Amended and Restated At Market Issuance Sales Agreement, or Sales Agreement, with B. Riley FBR, Inc. (“B. Riley,” f/k/a MLV & Co. LLC, and FBR Capital Markets & Co.) (the “ATM”) for the six month period ending June 30, 2021. For the six month period ended June 30, 2020, the Company issued approximately 9.3 million shares of common stock under the ATM at an average price of $2.47 per share for gross proceeds of $23.0 million. In connection with these sales, the Company paid aggregate fees of approximately $0.7 million. Mustang At-the-Market Offering During the six months ended June 30, 2021, Mustang issued approximately 16.2 million shares of common stock at an average price of $3.94 per share for gross proceeds of $63.8 million under the Mustang ATM. In connection with these sales, Mustang paid aggregate fees of approximately $1.2 million. During the six months ended June 30, 2020, Mustang issued approximately 2.1 million shares of common stock at an average price of $3.76 per share for gross proceeds of $8.0 million under the Mustang ATM. In connection with these sales, Mustang paid aggregate fees of approximately $0.1 million. Pursuant to the Founders Agreement, Mustang issued 452,965 shares of common stock to Fortress at a weighted average price of $3.50 per share June 30, 2021 for the six months ended June 30, 2021. During the six months ended June 30, 2020, Mustang issued 53,390 shares of common stock to Fortress at a weighted average price of $3.76 per share in connection with the Mustang ATM. On October 23, 2020, Mustang filed a shelf registration statement No. 333-249657 on Form S-3 (the “2020 Mustang S-3”), which was declared effective on December 4, 2020. Under the 2020 Mustang S-3, Mustang may sell up to a total of $100 million of its securities. As of June 30, 2021, approximately $22.3 million of the 2020 Mustang S-3 remains available for sales of securities. On April 23, 2021, Mustang filed a shelf registration statement on Form S-3 (the “Mustang 2021 S-3”), which was declared effective on May 24, 2021. Under the Mustang 2021 S-3, Mustang may sell up to a total of $200.0 million of its securities upon being declared effective. There have been no sales of securities under the Mustang 2021 S-3 as of June 30, 2021. Checkpoint At-the-Market Offering During the six months ended June 30, 2021, Checkpoint issued approximately 10,400,000 shares of common stock under the Checkpoint ATM for aggregate total gross proceeds of approximately $35.6 million at an average selling price of $3.42 per share, resulting in net proceeds of approximately $34.7 million after deducting commissions and other transaction costs. Pursuant to the Founders Agreement, Checkpoint issued 259,990 shares of common stock to Fortress at a weighted average price of $3.41 per share. During the six months ended June 30, 2020, Checkpoint sold a total of 1,303,282 shares of common stock under the Checkpoint ATM for aggregate total gross proceeds of approximately $2.7 million at an average selling price of $2.05 per share, resulting in net proceeds of approximately $2.6 million after deducting commissions and other transaction costs. Pursuant to the Founders Agreement, Checkpoint issued 32,571 shares of common stock to Fortress at a weighted average price of $2.01 per share. At June 30, 2021, approximately $60.3 million of the Checkpoint shelf remains available for sale under the Checkpoint S-3.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2021
Commitments and Contingencies
Commitments and Contingencies	16. Commitments and Contingencies Indemnification In accordance with its certificate of incorporation, bylaws and indemnification agreements, the Company has indemnification obligations to its officers and directors for certain events or occurrences, subject to certain limits, while they are serving at the Company’s request in such capacity. The Company has director and officer insurance to address such claims. The Company and its partner companies also provide indemnification of contractual counterparties in certain situations, including without limitation to clinical sites, service providers and licensors. In addition, we act, and are likely to continue acting, in as indemnitor of potential losses or liabilities that may be experienced by one or more of our affiliated companies and/or their partners or investors. For instance, under that certain Indemnification Agreement, dated as of November 12, 2018 (the “Indemnification Agreement”), we indemnify InvaGen and its affiliates for losses they may sustain in connection with inaccuracies that may appear in the representations and warranties that Avenue made to InvaGen in the Avenue SPMA, as such representations and warranties were given as of the dates of signing and first closing, and as may be required to be given as of the second stage closing under the Avenue SPMA as well. The maximum amount of indemnification we may have to provide under the Indemnification Agreement is $35.0 million, and such obligation terminates upon the consummation of the Merger Transaction (as defined in the Avenue SPMA). In the event of payment by us of any such indemnification amount, we would be able to recoup such amounts (other than our pro rata share of the indemnification as a shareholder in Avenue) from the Merger Transaction proceeds, but if the Merger Transaction never occurs, we would have no means of recouping such previously-paid indemnification amounts. If we become obligated to pay all or a portion of such indemnification amounts (regardless of whether or not we are partially reimbursed out of the proceeds of the Merger Transaction), our business and the market value of our common stock and/or debt securities may be materially adversely impacted. Legal Proceedings In November 2020, a purported securities class action complaint was filed in the U.S. District Court for the Eastern District of New York, putatively on behalf of all shareholders who purchased or otherwise acquired Fortress securities between December 11, 2019 and October 9, 2020 (the “Class Period”), and who were allegedly damaged in connection therewith. The case was captioned Cushman v. Fortress Biotech, Inc., et al. On March 31, 2021 Journey executed an Asset Purchase Agreement (the “Qbrexza APA”) with Dermira, Inc. a subsidiary of Eli Lilly and Company (“Dermira”). Pursuant to the terms of the agreement Journey acquired the rights to Qbrexza® (glycopyrronium), a prescription cloth towelette to treat primary axillary hyperhidrosis in patients nine years of age or older. Upon closing of the Qbrexza® purchase, Journey became substituted for Dermira as the plaintiff in U.S. patent litigation commenced by Dermira on October 21, 2020 in the U.S. District Court of Delaware (the “Patent Litigation”) against Perrigo Pharma International DAC (“Perrigo”) alleging infringement of certain patents covering Qbrexza® (the “Qbrexza® Patents”), which are included among the proprietary rights to Qbrexza® to be acquired pursuant to the APA. The Patent Litigation was initiated following the submission by Perrigo, in accordance with the procedures set out in the Drug Price Competition and Patent Term Restoration Act of 1984 (the “Hatch-Waxman Act”), of an Abbreviated New Drug Application, or ANDA. The ANDA seeks approval to market a generic version of Qbrexza® prior to the expiration of the Qbrexza® Patents and alleges that the Qbrexza® Patents are invalid. Perrigo is subject to a 30-month stay preventing it from selling a generic version, but that stay is set to expire on March 9, 2023. Trial in the Patent Litigation is scheduled for September 19, 2022. The Company cannot make any predictions about the final outcome of this matter or the timing thereof. To our knowledge, there are no other legal proceedings pending against us, other than routine actions and administrative proceedings, and other actions not deemed material are not expected to have a material adverse effect on our financial condition, results of operations, or cash flows. In the ordinary course of business, however, the Company may be subject to both insured and uninsured litigation. Suits and claims may be brought against the Company by customers, suppliers, partners and/or third parties (including tort claims for personal injury arising from clinical trials of the Company’s product candidates and property damage) alleging deficiencies in performance, breach of contract, etc., and seeking resulting alleged damages.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2021
Related Party Transactions
Related Party Transactions	17. Related Party Transactions The Company’s Chairman, President and Chief Executive Officer, individually and through certain trusts over which he has voting and dispositive control, beneficially owned approximately 10.7% of the Company’s issued and outstanding Common Stock as of June 30, 2021. The Company’s Executive Vice Chairman, Strategic Development owns approximately 11.6% of the Company’s issued and outstanding Common Stock as of June 30, 2021. Shared Services Agreement with TG Therapeutics, Inc (“TGTX”) In July 2015, TGTX and the Company entered into an arrangement to share the cost of certain research and development employees. The Company’s Executive Vice Chairman, Strategic Development, is Executive Chairman and Interim Chief Executive Officer of TGTX. Under the terms of the Agreement, TGTX will reimburse the Company for the salary and benefit costs associated with these employees based upon actual hours worked on TGTX related projects. For the three months ended June 30, 2021 and 2020, the Company invoiced TGTX $0.1 million and 0.1 million, respectively. For the six months ended June 30, 2021 and 2020, the Company invoiced TGTX $0.2 million and $0.2 million, respectively. On June 30, 2021, the amount due from TGTX related to this arrangement approximated $34,000 . Desk Space Agreements with TGTX and OPPM In connection with the Company’s Desk Space Agreements for the New York, NY office space, for the three months ended June 30, 2021 and 2020, the Company had paid $0.7 million and $0.7 million in rent, respectively, and invoiced TGTX and OPPM approximately $0.4 million and $0.4 million and nil and nil respectively, for their prorated share of the rent base. At June 30, 2021, there were no material amounts due related to this arrangement from TGTX or OPPM. As of July 1, 2018, TGTX employees began to occupy desks in the Waltham, MA office under the Desk Share Agreement. TGTX began to pay their share of the rent based on actual percentage of the office space occupied on a month by month basis. For the three months ended June 30, 2021 and 2020, the Company had paid approximately $0.1 million and $0.1 million in rent for the Waltham, MA office, and invoiced TGTX approximately $28,000 and $29,000, respectively. Avenue Secondment with Journey Effective June 1, 2021, the Company, InvaGen, Avenue and Journey entered into a secondment agreement for a certain Avenue employee to be seconded to Journey. During the secondment, Journey will have the authority to supervise the Avenue employee and will reimburse Avenue for the employee’s salary and salary-related costs. The term of this agreement lasts until the approval of IV tramadol by the FDA or until the employee’s services are needed again by the Company. The amount reimbursable to Avenue is $25,000 for the three and six months ended June 30, 2021. Avenue Key Employee Retention Effective June 24, 2021, the Company and certain of Avenue’s key employees entered into retention agreements (the “Avenue Retention Agreements”) pursuant to which retention bonuses are payable only if the Merger Transaction (as defined in the SPMA) occurs and the applicable employee remains employed by Avenue immediately prior to the closing of such Merger Transaction. These Avenue Retention Agreements are effective until the earlier of the consummation of the Merger Transaction or the termination of the SPMA. Amounts potentially payable to these Avenue key employees are $2.9 million as of June 30, 2021. Founders Agreement The Company has entered into Founders Agreements and, in some cases, Exchange Agreements with certain of its subsidiaries as described in the Company's Form 10-K for the year ended December 31, 2020, filed with the SEC on March 31, 2021. The following table summarizes, by partner company, the effective date of the Founders Agreements and PIK dividend or equity fee payable to the Company in accordance with the terms of the Founders Agreements, Exchange Agreements, and the subsidiaries' certificates of incorporation: PIK Dividend as a % of fully diluted outstanding Class of Stock Fortress Partner Company Effective Date 1 capitalization Issued Helocyte March 20, 2015 2.5 % Common Stock Avenue February 17, 2015 0.0 % 2 Common Stock Mustang March 13, 2015 2.5 % Common Stock Checkpoint March 17, 2015 0.0 % 3 Common Stock Cellvation October 31, 2016 2.5 % Common Stock Baergic December 17, 2019 4 2.5 % Common Stock Cyprium March 13, 2017 2.5 % Common Stock Aevitas July 28, 2017 2.5 % Common Stock Oncogenuity April 22, 2020 4 2.5 % Common Stock FBIO Acquisition Corp. VIII November 7, 2017 4 0.0 % Common Stock Note 1: Represents the effective date of each subsidiary’s Founders Agreement. Each PIK dividend and equity fee is payable on the annual anniversary of the effective date of the original Founders Agreement or has since been amended to January 1 of each calendar year. Note 2: Concurrently with the execution and delivery of the Stock Purchase and Merger Agreement (“Avenue SPMA”) entered into between, Avenue, the Company and InvaGen Pharmaceuticals Inc. (“InvaGen”) (together, the “ SPMA Parties”), the SPMA Parties entered into a waiver agreement (the “Waiver Agreement”), pursuant to which the Company irrevocably waived its right to receive the annual dividend of Avenue’s common shares under the terms of the Class A preferred stock and any fees, payments, reimbursements or other distributions under the management services agreement between the Company and Avenue and the Founders Agreement, for the period from the effective date of the Waiver Agreement until such time as InvaGen beneficially owns less than 75% of the shares of Avenue common stock it acquired under the first closing of the Avenue SPMA. Pursuant to the Waiver Agreement, immediately prior to the closing of the Merger Transaction contemplated under the Avenue SPMA, the Company will convert all of its preferred shares into common shares pursuant to the terms of the certificate of incorporation of Avenue, as amended from time to time. Note 3: Instead of a PIK dividend, Checkpoint pays the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization. Note 4: Represents the Trigger Date, the date that the Fortress partner company first acquires, whether by license or otherwise, ownership rights in a product. Management Services Agreements The Company has entered in Management Services Agreements (the “MSAs”) with certain of its partner companies as described in the Company’s Form 10-K for the year ended December 31, 2019, filed with the SEC on March 16, 2020. The following table summarizes the effective date of the MSA and the annual consulting fee payable by the partner company to the Company in quarterly installments: Annual MSA Fee Fortress partner company Effective Date (Income)/Expense Helocyte March 20, 2015 $ 500 Avenue 1 February 17, 2015 — Mustang March 13, 2015 500 Checkpoint March 17, 2015 500 Cellvation October 31, 2016 500 Baergic March 9, 2017 500 Cyprium March 13, 2017 500 Aevitas July 28, 2017 500 Oncogenuity February 10, 2017 500 FBIO Acquisition Corp. VIII November 7, 2017 500 Fortress (4,500) Consolidated (Income)/Expense $ — Note 1: Concurrently with the execution and delivery of the Avenue SPMA entered into among, Avenue, the Company and InvaGen Pharmaceuticals Inc. (“InvaGen”) (together, the “SPMA Parties”), the SPMA Parties entered into a waiver agreement (the “Waiver Agreement”), pursuant to which the Company irrevocably waived its right to receive the annual dividend of Avenue’s common shares under the terms of the Class A preferred stock and any fees, payments, reimbursements or other distributions under the management services agreement between the Company and Avenue and the Founders Agreement, for the period from the effective date of the Waiver Agreement until such time as InvaGen beneficially owns less than 75% of the shares of Avenue common stock it acquired under the first closing of the Avenue SPMA. Pursuant to the Waiver Agreement, immediately prior to the closing of the Merger Transaction contemplated under the Avenue SPMA, the Company will convert all of its preferred shares into common shares pursuant to the terms of the certificate of incorporation of Avenue, as amended from time to time. (See Note 3).

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2021
Segment Information
Segment Information	18. Segment Information The Company operates in two reportable segments, Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development. The accounting policies of the Company’s segments are the same as those described in Note 2. The following tables summarize, for the periods indicated, operating results from continued operations by reportable segment: Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product Three Months Ended June 30, 2021 Sales Development Consolidated Net revenue $ 15,288 $ 2,555 $ 17,843 Direct cost of goods (7,484) — (7,484) Sales and marketing costs (6,535) — (6,535) Research and development (10,029) (23,805) (33,834) General and administrative (1,084) (11,763) (12,847) Other expense (4,683) 23,149 18,466 Segment loss $ (14,527) (9,864) $ (24,391) Pharmaceutical and Dermatology Biotechnology ($ in thousands) Products Product Three Months Ended June 30, 2020 Sales Development Consolidated Net revenue $ 9,415 $ 42 $ 9,457 Direct cost of goods (3,124) — (3,124) Sales and marketing costs (3,400) — (3,400) Research and development — (17,273) (17,273) General and administrative (1,349) (9,707) (11,056) Other expense (172) (2,895) (3,067) Segment income (loss) $ 1,370 $ (29,833) $ (28,463) Pharmaceutical and Dermatology Biotechnology Products Product Six Months Ended June 30, 2021 Sales Development Consolidated Net revenue $ 26,007 $ 3,423 $ 29,430 Direct cost of goods (11,392) — (11,392) Sales and marketing costs (11,605) — (11,605) Research and development (10,029) (43,959) (53,988) General and administrative (2,240) (23,079) (25,319) Other Expenses (4,904) 27,321 22,417 Segment loss $ (14,163) $ (36,294) $ (50,457) Pharmaceutical and Dermatology Biotechnology Products Product Six Months Ended June 30, 2020 Sales Development Consolidated Net revenue $ 21,361 $ 1,014 $ 22,375 Direct cost of goods (6,934) — (6,934) Sales and marketing costs (8,079) — (8,079) Research and development — (32,390) (32,390) General and administrative (2,302) (19,594) (21,896) Other expense (379) (5,228) (5,607) Segment income (loss) $ 3,667 $ (56,198) $ (52,531) The following tables summarize, for the periods indicated, total assets by reportable segment: Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product June 30, 2021 Sales Development Total Assets Intangible assets, net $ 13,701 $ — $ 13,701 Tangible assets 53,712 350,745 404,457 Total segment assets $ 67,413 $ 350,745 $ 418,158 Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product December 31, 2020 Sales Development Total Assets Intangible assets, net $ 14,629 $ — $ 14,629 Tangible assets 35,422 283,362 318,784 Total segment assets $ 50,051 $ 283,362 $ 333,413

Revenues from Contracts and Sig

Revenues from Contracts and Significant Customers	6 Months Ended
Revenues from Contracts and Significant Customers	Jun. 30, 2021
Revenues from Contracts and Significant Customers
Revenues from Contracts and Significant Customers	19. Revenues from Contracts and Significant Customers Disaggregation of Total Revenue Product revenue is comprised of Journey’s seven marketed products: Targadox®, Luxamend®, Ceracade®, Exelderm®, Ximino®, Accutane® and Qbrexza®. Substantially all of the product revenue is recorded in the U.S. The Company’s collaboration revenue is from Cyprium’s agreement with Sentynl (see Note 3). The Company’s related party revenue is from Checkpoint’s collaborations with TGTX. The table below summarizes the Company’s revenue for the three and six months ending June 30, 2021 and 2020: Three months ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenue Product revenue, net $ 15,288 $ 9,415 $ 26,007 $ 21,361 Collaboration revenue 2,400 — 3,200 — Revenue – related party 155 42 223 1,014 Net revenue $ 17,843 $ 9,457 $ 29,430 $ 22,375 Significant Customers For both the three and six months ended June 30, 2021, none of the Company’s dermatology products customers accounted for more than 10% of its total gross product revenue. For both the three and six months ended June 30, 2020, none of the Company’s dermatology products customers accounted for more than 10% of its total gross product revenue. At June 30, 2021, one of the Company’s dermatology products customers accounted for more than 10% of its total accounts receivable balance at 13.7%. At December 31, 2020, one of the Company’s dermatology products customers accounted for more than 10% of its total accounts balance at 12%.

Income taxes

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2021
Income taxes
Income taxes	20. Income taxes On March 11, 2021, the President of the United States signed the American Rescue Plan Act, also called the COVID-19 Stimulus Package or American Rescue Plan into law. The American Rescue Plan includes many non-tax and tax provisions to help address the continuing pandemic, including extending the Employee Retention Credit to December 31, 2021. The Company will continue to evaluate the impact of the American Rescue Plan on its financial positions, results of operations and cash flows. The Company and its subsidiaries are subject to US federal and state income taxes. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of Management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. The Company files a consolidated income tax return with subsidiaries for which the Company has an 80% or greater ownership interest. Subsidiaries for which the Company does not have an 80% or more ownership are not included in the Company’s consolidated income tax group and file their own separate income tax return. As a result, certain corporate entities included in these financial statements are not able to combine or offset their taxable income or losses with other entities’ tax attributes. Income tax expense for the three and six months ended June 30, 2021 and 2020 is based on the estimated annual effective tax rate.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2021
Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. The unaudited condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the unaudited condensed consolidated financial statements have read or have access to the audited financial statements for the preceding fiscal year for each of Avenue, Checkpoint and Mustang. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Form 10-K, which was filed with the United States Securities and Exchange Commission (“SEC”) on March 31, 2021, from which the Company derived the balance sheet data at December 31, 2020, as well as Checkpoint’s Form 10-K, filed with the SEC on March 12, 2021, Mustang’s Form 10-K, filed with the SEC on March 24, 2021, and Avenue’s Form 10-K, filed with the SEC on March 31, 2021. The Company’s unaudited condensed consolidated financial statements include the accounts of the Company’s subsidiaries. For consolidated entities where the Company owns less than 100% of the subsidiary, the Company records net loss attributable to non-controlling interests in its consolidated statements of operations equal to the percentage of the economic or ownership interest retained in such entities by the respective non-controlling parties. The Company also consolidates subsidiaries in which it owns less than 50% of the subsidiary but maintains voting control. The Company continually assesses whether changes to existing relationships or future transactions may result in the consolidation or deconsolidation of partner companies. The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period.
Use of Estimates	Use of Estimates The Company’s unaudited condensed consolidated financial statements include certain amounts that are based on management’s best estimates and judgments. The Company’s significant estimates include, but are not limited to, useful lives assigned to long-lived assets, fair value of stock options and warrants, stock-based compensation, common stock issued to acquire licenses, investments, accrued expenses, provisions for income taxes, and contingencies. Due to the uncertainty inherent in such estimates, actual results may differ from these estimates.
Restricted Cash	Restricted Cash The Company records cash held in trust or pledged to secure certain debt obligations as restricted cash. As of June 30, 2021, the Company had $1.6 million of restricted cash representing pledges to secure letters of credit in connection with certain office leases. As of June 30, 2020, the Company had $16.6 million of restricted cash collateralizing a note payable of $15.0 million and $1.6 million in certain pledges to secure letters of credit in connection with certain office leases. The following table provides a reconciliation of cash, cash equivalents, and restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows at June 30, 2021, and 2020: June 30, 2021 2020 Cash and cash equivalents $ 274,992 $ 183,278 Restricted cash 1,645 16,574 Total cash and cash equivalents and restricted cash $ 276,637 $ 199,852
Collaboration Revenue	Collaboration Revenue Our collaboration revenue includes service revenue, license fees and future contingent milestone based payments. We recognize collaboration revenue for contracted R&D services performed for our customers over time. We measure our progress using an input method based on the effort we expend or costs we incur toward the satisfaction of our performance obligation. We estimate the amount of effort we expend, including the time it will take us to complete the activities, or the costs we may incur in a given period, relative to the estimated total effort or costs to satisfy the performance obligation. This results in a percentage that we multiply by the transaction price to determine the amount of revenue we recognize each period. This approach requires us to make estimates and use judgement. If our estimates or judgements change over the course of the collaboration, they may affect the timing and amount of revenue that we recognize in the current and future periods.
Reclassifications	Reclassifications Certain comparative figures have been reclassified to conform to the current year presentation. The Company reclassified certain return reserves related to accounts receivable balances of $4.6 million from accounts receivable to current liabilities on the condensed consolidated balance sheet at December 31, 2020. This reclassification was deemed to be immaterial.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the 2020 Annual Report, other than the accounting for inventory, partner company convertible preferred shares and sequencing.
Inventories	Inventories Inventories comprise raw materials and finished goods, which are valued at the lower of cost and net realizable value, on a first-in, first-out basis. The Company evaluates the carrying value of inventories on a regular basis, taking into account anticipated future sales compared with quantities on hand, and the remaining shelf life of goods on hand.
Partner Company Convertible Preferred Shares	Partner Company Convertible Preferred Shares The Journey 8% Cumulative Convertible Class A Preferred Stock (“Journey Preferred Stock”) includes settlement features that result in liability classification. The initial carrying value of the Journey Preferred Stock is accreted to the expected settlement value, a fixed monetary amount to be settled by issuing a variable number of Journey common shares. The discount to the settlement value is accreted to interest expense using the effective interest method.
Sequencing	Sequencing On March 31, 2021, the Company adopted a sequencing policy under accounting Standards Codification (“ASC”) 815-40-35 Derivatives and Hedging
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Recently Issued Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, “ Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ,” which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption will be permitted. The Company is currently evaluating the impact of this standard on its financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses” . The ASU sets forth a “current expected credit loss” (CECL) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. Recently, the FASB issued the final ASU to delay adoption for smaller reporting companies to calendar year 2023. The Company is currently assessing the impact of the adoption of this ASU on its condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2021
Summary of Significant Accounting Policies
Schedule of Cash and Cash Equivalents and restricted cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows at June 30, 2021, and 2020: June 30, 2021 2020 Cash and cash equivalents $ 274,992 $ 183,278 Restricted cash 1,645 16,574 Total cash and cash equivalents and restricted cash $ 276,637 $ 199,852

Inventory (Tables)

Inventory (Tables)	6 Months Ended
Inventory (Tables)	Jun. 30, 2021
Inventory
Schedule of Inventory	Inventory consisted of the following: June 30, December 31, ($ in thousands) 2021 2020 Raw materials $ 4,907 $ — Work-in-process — — Finished goods 9,408 1,404 Total inventories $ 14,315 $ 1,404

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
Property and Equipment (Tables)	Jun. 30, 2021
Property and Equipment
Schedule of Property and Equipment	Fortress’ property and equipment consisted of the following: Useful Life June 30, December 31, ($ in thousands) (Years) 2021 2020 (Unaudited) Computer equipment 3 $ 663 $ 663 Furniture and fixtures 5 1,211 1,199 Machinery & equipment 5 6,295 5,748 Leasehold improvements 2 15 10,580 10,580 Construction in progress 1 N/A 2,355 499 Total property and equipment 21,104 18,689 Less: Accumulated depreciation (7,978) (6,766) Property and equipment, net $ 13,126 $ 11,923 Note 1: Relates to the Mustang cell processing facility.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2021
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The table below provides a roll-forward of the changes in fair value of Level 3 financial instruments as of June 30, 2021: Investment in ($ in thousands) Caelum Balance at December 31, 2020 $ 17,566 Change in fair value of investments 30,918 Balance at June 30, 2021 $ 48,484
Schedule of Financial Instruments, Measured at Fair Value on a Recurring Basis	The following tables classify into the fair value hierarchy of Fortress’ financial instruments, measured at fair value as of June 30, 2021 and December 31, 2020: Fair Value Measurement as of June 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Fair value of investment in Caelum $ — $ — $ 48,484 $ 48,484 Total $ — $ — $ 48,484 $ 48,484 Fair Value Measurement as of June 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Liabilities Partner company derivative warrant liabilities $ — $ — $ 4,287 $ 4,287 Total $ — $ — $ 4,287 $ 4,287 Fair Value Measurement as of December 31, 2020 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Fair value of investment in Caelum $ — $ — $ 17,566 $ 17,566 Total $ — $ — $ 17,566 $ 17,566
Warrants [Member] \| Journey [Member]
Fair Value of Liabilities Measured on Recurring Basis	Warrants ($ in thousands) liabilities Balance at December 31, 2020 $ — Additions: Journey contingent payment warrant 3,743 Journey placement agent warrant 544 Balance at June 30, 2021 $ 4,287
Placement Agent Warrants [Member] \| Journey [Member]
Summary of the Weighted average Significant Unobservable Inputs	The fair value of Journey’s Contingently Issuable Warrants in connection with Journey’s convertible preferred offering (see Note 10), was measured using a Monte Carlo simulation valuation methodology. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring Journey’s warrant liability that are categorized within Level 3 of the fair value hierarchy as of June 30, 2021 was as follows: June 30, 2021 Risk-free interest rate 0.87 % Expected dividend yield — Expected term in years 1.3 Expected volatility 50 % Probability of issuance of the warrant 70 %
Contingent Payment Warrant [Member] \| Journey [Member]
Summary of the Weighted average Significant Unobservable Inputs	Journey valued this contingent payment utilizing a Probability Weighted Expected Return Method (PWERM) model. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring Journey’s derivative liability that are categorized within Level 3 of the fair value hierarchy as of June 30, 2021 was as follows: June 30, 2021 Discount rate 30 % Expected dividend yield — Expected term 3 months to 5 years Probability of outcomes 3% to 70 %

Licenses Acquired (Tables)

Licenses Acquired (Tables)	6 Months Ended
Licenses Acquired (Tables)	Jun. 30, 2021
Licenses Acquired
Schedule of Research and Development-Licenses	Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Partner companies: JMC $ 10,000 $ — $ 10,000 $ — Mustang 1,000 1,300 1,000 1,550 Aevitas 2 — 27 — Oncogenuity 1 270 1 270 FBIO Acquisition Corp VIII — — 101 — Total $ 11,003 $ 1,570 $ 11,129 $ 1,820
Schedule of Research and Development for Licenses Acquired	For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center CD123 (MB-102) 250 334 250 334 IL13Rα2 (MB-101) $ — $ 333 $ — $ 333 HER2 (MB-103) — — — 250 PSCA (MB-105) — 333 — 333 Mayo Clinic 750 750 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) — 300 — 300 Total $ 1,000 $ 1,300 $ 1,000 $ 1,550

Intangibles, net (Tables)

Intangibles, net (Tables)	6 Months Ended
Intangibles, net (Tables)	Jun. 30, 2021
Intangibles, net
Schedule of JMC Intangible Asset	The table below provides a summary of the Journey intangible assets as of June 30, 2021 and December 31, 2020, respectively: Estimated Useful ($ in thousands) Lives (Years) June 30, 2021 December 31, 2020 (Unaudited) Total intangible assets – asset purchases 3 to 7 $ 19,003 $ 18,606 Accumulated amortization (5,302) (3,977) Net intangible assets $ 13,701 $ 14,629
Schedule of JMC recognized expense related to its product licenses	The table below provides a summary for the six months ended June 30, 2021, of Journey’s recognized expense related to its product licenses, which was recorded in costs of goods sold on the condensed consolidated statement of operations: Intangible ($ in thousands) Assets, Net Beginning balance at January 1, 2021 $ 14,629 Additions: Exelderm milestone 397 Amortization expense (1,325) Ending balance at June 30, 2021 $ 13,701
Schedule of future amortization of intangible assets	The future amortization of these intangible assets is as follows: Total ($ in thousands) Ximino® Exelderm® Accutane® Amortization Six months ending December 31, 2021 $ 509 $ 167 $ 473 $ 1,149 Year ended December 31, 2022 1,019 — 946 1,965 Year ended December 31, 2023 1,019 — 945 1,964 Year ended December 31, 2024 1,019 — 946 1,965 Year ended December 31, 2025 1,019 — 945 1,964 Thereafter 595 — 157 752 Sub-total $ 5,180 $ 167 $ 4,412 $ 9,759 Assets not yet placed in service: Anti-itch product license acquisition (amortization commencing second half of 2021) — — — 3,942 Total $ 5,180 $ 167 $ 4,412 $ 13,701

Debt and Interest (Tables)

Debt and Interest (Tables)	6 Months Ended
Debt and Interest (Tables)	Jun. 30, 2021
Debt and Interest
Schedule of Debt	Total debt consists of the following as of June 30, 2021 and December 31, 2020: June 30, December 31, ($ in thousands) 2021 2020 Interest rate Maturity (Unaudited) Total notes payable - Oaktree Note $ 60,000 $ 60,000 11.00 % August - 2025 Less: Discount on notes payable (7,737) (8,323) Total notes payable $ 52,263 $ 51,677
Schedule of partner company installment payments - licenses	The following tables show the details of partner company installment payments – licenses for the periods presented. June 30, 2021 ($ in thousands) Ximino 1 Accutane 2 Anti-Itch Product 3 Total Partner company installment payments - licenses, short-term $ 2,000 $ 1,000 $ 1,500 $ 4,500 Less: imputed interest (517) (101) (21) (639) Sub-total partner company installment payments - licenses, short-term $ 1,483 $ 899 $ 1,479 $ 3,861 Partner company installment payments - licenses, long-term $ 5,000 $ 2,000 $ — $ 7,000 Less: imputed interest (519) (46) — (565) Sub-total partner company installment payments - licenses, long-term $ 4,481 $ 1,954 $ — $ 6,435 Total partner company installment payments - licenses $ 5,964 $ 2,853 $ 1,479 $ 10,296 December 31, 2020 ($ in thousands) Ximino 1 Accutane 2 Anti-Itch Product 3 Total Partner company installment payments - licenses, short-term $ 2,000 $ 500 $ 2,800 $ 5,300 Less: imputed interest (602) (122) (54) (778) Sub-total partner company installment payments - licenses, short-term $ 1,398 $ 378 $ 2,746 $ 4,522 Partner company installment payments - licenses, long-term $ 5,000 $ 3,000 $ 1,000 $ 9,000 Less: imputed interest (775) (88) — (863) Sub-total partner company installment payments - licenses, long-term $ 4,225 $ 2,912 $ 1,000 $ 8,137 Total partner company installment payments - licenses $ 5,623 $ 3,290 $ 3,746 $ 12,659 Note 1: Imputed interest rate of 11.96% and maturity date of July 22, 2024. Note 2: Imputed interest rate of 4.03%and maturity date of July 29, 2023. Note 3: Imputed interest rate of 4.25%and maturity date of January 1, 2022.
Interest Expense for all Debt Arrangements	The following table shows the details of interest expense for all debt arrangements during the periods presented. Interest expense includes contractual interest; fees include amortization of the debt discount and amortization of fees associated with loan transaction costs, amortized over the life of the loan. Three Months Ended June 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 85 $ — $ 85 2017 Subordinated Note Financing — — — 1,092 204 1,296 2019 Notes — — — 269 — 269 2018 Venture Notes — — — 433 186 619 LOC Fees 14 — 14 16 — 16 Mustang Horizon Notes — — — 349 270 619 Oaktree Note 1,669 324 1,993 — — — Partner company convertible preferred shares — 270 270 — — — Partner company dividend payable 263 — 263 — — — Partner company installment payments - licenses 2 220 — 220 155 — 155 Other — — — — — — Total Interest Expense and Financing Fee $ 2,166 $ 594 $ 2,760 $ 2,399 $ 660 $ 3,059 Six Months Ended June 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 169 - $ 169 2017 Subordinated Note Financing — — — 2,176 516 2,692 2019 Notes — — — 538 — 538 2018 Venture Notes — — — 866 362 1,228 LOC Fees 23 — 23 31 — 31 Mustang Horizon Notes — — — 690 529 1,219 Oaktree Note 3,319 633 3,952 — — — Partner company convertible preferred shares — 270 270 — — — Partner company dividend payable 263 — 263 — — — Partner company installment payments - licenses 2 441 — 441 305 — 305 Other — — — 2 — 2 Total Interest Expense and Financing Fee $ 4,046 $ 903 $ 4,949 $ 4,777 $ 1,407 $ 6,184 Note 1: Amortization of fees in connection with debt raises. Note 2: Imputed interest expense related to Ximino, Accutane and inti-itch cream acquisitions.

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
Accounts Payable and Accrued Expenses (Tables)	Jun. 30, 2021
Accounts Payable and Accrued Expenses
Schedule of accounts payable and accrued expenses	Accounts payable and accrued expenses consisted of the following: June 30, December 31, ($ in thousands) 2021 2020 (Unaudited) Accounts Payable $ 14,271 $ 11,412 Accrued expenses: Professional fees 1,205 1,236 Salaries, bonus and related benefits 5,207 6,701 Research and development 4,063 5,007 Research and development - manufacturing — 518 Research and development - license fees 8,000 — Research and development - license maintenance fees 627 461 Research and development - milestones 1,115 600 Accrued royalties payable 3,340 2,682 Accrued coupon expense 18,609 12,869 Income taxes payable — 136 Return reserve 2,099 2,580 Other 1,370 1,187 Total accounts payable and accrued expenses $ 59,906 $ 45,389

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	6 Months Ended
Non-Controlling Interests (Tables)	Jun. 30, 2021
Non-Controlling Interests
Schedule of Non-Controlling Interests in Consolidated Entities	Non-controlling interests in consolidated entities are as follows: For the Six Months Ended As of June 30, 2021 June 30, 2021 As of June 30, 2021 Net loss attributable to Non-controlling interests Non-controlling ($ in thousands) NCI equity share non-controlling interests in consolidated entities ownership FBIO Acquisition Corp VIII $ (202) (96) $ (298) 32.0 % Aevitas (4,022) (567) (4,589) 46.6 % Avenue 2 2,004 (1,507) 497 77.4 % Baergic (1,916) (20) (1,936) 39.5 % Cellvation (1,356) (70) (1,426) 22.1 % Checkpoint 1 57,779 (11,643) 46,136 81.1 % Coronado SO (290) — (290) 13.0 % Cyprium (1,157) (638) (1,795) 29.8 % Helocyte (5,305) (47) (5,352) 18.3 % JMC 800 (1,182) (382) 7.2 % Mustang 2 133,046 (22,066) 110,980 82.2 % Oncogenuity (540) (264) (804) 24.9 % Tamid (721) — (721) 22.8 % Total $ 178,120 $ (38,100) $ 140,020 For the twelve months ended As of December 31, 2020 December 31, 2020 As of December 31, 2020 Net loss attributable to Non-controlling interests Non-controlling ($ in thousands) NCI equity share non-controlling interests in consolidated entities ownership FBIO Acquisition Corp VIII $ (7) (27) $ (34) 10.0 % Aevitas (2,370) (823) (3,193) 39.0 % Avenue 2 5,800 (3,974) 1,826 77.4 % Baergic (1,662) (97) (1,759) 39.5 % Cellvation (1,089) (182) (1,271) 22.1 % Checkpoint 1 41,704 (13,265) 28,439 80.4 % Coronado SO (290) — (290) 13.0 % Cyprium 567 (1,478) (911) 30.5 % Helocyte (4,986) (259) (5,245) 18.8 % JMC 138 491 629 7.1 % Mustang 2 116,060 (36,429) 79,631 80.9 % Oncogenuity (82) (376) (458) 25.3 % Tamid (663) (40) (703) 22.8 % Total $ 153,120 $ (56,459) $ 96,661 Note 1: Checkpoint is consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Checkpoint’s Class A Common Shares which provide super-majority voting rights. Note 2: Avenue and Mustang are consolidated with Fortress’ operations because Fortress maintains voting control through its ownership of Preferred Class A Shares which provide super-majority voting rights.

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	6 Months Ended
Net Loss per Common Share (Tables)	Jun. 30, 2021
Net Loss per Common Share
Schedule of Diluted Weighted Average Shares Outstanding	The following shares of potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding, as the effect of including such securities would be anti-dilutive for the three months ended June 30, 2021: Six Months Ended June 30, 2021 2020 Warrants to purchase Common Stock 4,522,654 2,784,037 Options to purchase Common Stock 828,490 1,210,502 Unvested Restricted Stock 16,389,156 14,306,355 Unvested Restricted Stock Units 215,684 458,658 Total 21,955,984 18,759,552

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Jun. 30, 2021
Stockholders' Equity
Schedule of Stock-Based Compensation Expense	The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards and warrants for the three months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Employee awards $ 1,888 $ 1,315 $ 3,376 $ 2,532 Executive awards of Fortress Companies' stock 348 366 693 767 Non-employee awards 653 51 675 105 Warrants — 65 — 65 Partner Companies: Avenue 116 216 230 431 Checkpoint 766 731 1,540 1,370 Mustang 547 957 1,543 1,762 Other 32 47 66 116 Total stock-based compensation expense $ 4,350 $ 3,748 $ 8,123 $ 7,148
Schedule of Stock Option Activities	The following table summarizes Fortress stock option activities excluding activity related to Fortress partner companies: Weighted average Total remaining Weighted average weighted average contractual life Number of shares exercise price intrinsic value (years) Options vested and expected to vest at December 31, 2020 1,053,490 $ 5.02 $ 647,482 2.63 Forfeited (25,000) 4.88 — — Options vested and expected to vest at June 30, 2021 1,028,490 $ 5.02 $ 824,878 2.15
Schedule of Restricted Stock Awards and Restricted Stock Units	The following table summarizes Fortress restricted stock awards and restricted stock units activities, excluding activities related to Fortress Companies: Weighted average grant Number of shares price Unvested balance at December 31, 2020 15,507,504 $ 2.49 Restricted stock granted 2,330,678 3.17 Restricted stock vested (236,668) 2.75 Restricted stock units granted 1,112,666 4.13 Restricted stock units forfeited (78,750) 3.47 Restricted stock units vested (197,917) 3.48 Unvested balance at June 30, 2021 18,437,513 $ 2.66
Schedule of Warrant activities	The following table summarizes Fortress warrant activities, excluding activities related to Fortress Companies: Total weighted Weighted average average remaining Number of Weighted average intrinsic contractual life shares exercise price value (years) Outstanding as of December 31, 2020 4,590,621 $ 3.17 $ 607,848 4.85 Expired (60,000) 1.37 — Forfeited (25,000) 3.00 — Outstanding as of June 30, 2021 4,505,621 $ 3.20 $ 1,958,891 4.44 Exercisable as of June 30, 2021 4,370,621 $ 3.23 $ 1,754,141 4.36

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2021
Related Party Transactions
Schedule of effective date and PIK dividend or equity fee payable	The Company has entered into Founders Agreements and, in some cases, Exchange Agreements with certain of its subsidiaries as described in the Company's Form 10-K for the year ended December 31, 2020, filed with the SEC on March 31, 2021. The following table summarizes, by partner company, the effective date of the Founders Agreements and PIK dividend or equity fee payable to the Company in accordance with the terms of the Founders Agreements, Exchange Agreements, and the subsidiaries' certificates of incorporation: PIK Dividend as a % of fully diluted outstanding Class of Stock Fortress Partner Company Effective Date 1 capitalization Issued Helocyte March 20, 2015 2.5 % Common Stock Avenue February 17, 2015 0.0 % 2 Common Stock Mustang March 13, 2015 2.5 % Common Stock Checkpoint March 17, 2015 0.0 % 3 Common Stock Cellvation October 31, 2016 2.5 % Common Stock Baergic December 17, 2019 4 2.5 % Common Stock Cyprium March 13, 2017 2.5 % Common Stock Aevitas July 28, 2017 2.5 % Common Stock Oncogenuity April 22, 2020 4 2.5 % Common Stock FBIO Acquisition Corp. VIII November 7, 2017 4 0.0 % Common Stock Note 1: Represents the effective date of each subsidiary’s Founders Agreement. Each PIK dividend and equity fee is payable on the annual anniversary of the effective date of the original Founders Agreement or has since been amended to January 1 of each calendar year. Note 2: Concurrently with the execution and delivery of the Stock Purchase and Merger Agreement (“Avenue SPMA”) entered into between, Avenue, the Company and InvaGen Pharmaceuticals Inc. (“InvaGen”) (together, the “ SPMA Parties”), the SPMA Parties entered into a waiver agreement (the “Waiver Agreement”), pursuant to which the Company irrevocably waived its right to receive the annual dividend of Avenue’s common shares under the terms of the Class A preferred stock and any fees, payments, reimbursements or other distributions under the management services agreement between the Company and Avenue and the Founders Agreement, for the period from the effective date of the Waiver Agreement until such time as InvaGen beneficially owns less than 75% of the shares of Avenue common stock it acquired under the first closing of the Avenue SPMA. Pursuant to the Waiver Agreement, immediately prior to the closing of the Merger Transaction contemplated under the Avenue SPMA, the Company will convert all of its preferred shares into common shares pursuant to the terms of the certificate of incorporation of Avenue, as amended from time to time. Note 3: Instead of a PIK dividend, Checkpoint pays the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization. Note 4: Represents the Trigger Date, the date that the Fortress partner company first acquires, whether by license or otherwise, ownership rights in a product.
Schedule of effective date and annual consulting fee payable by the subsidiary to the Company	The Company has entered in Management Services Agreements (the “MSAs”) with certain of its partner companies as described in the Company’s Form 10-K for the year ended December 31, 2019, filed with the SEC on March 16, 2020. The following table summarizes the effective date of the MSA and the annual consulting fee payable by the partner company to the Company in quarterly installments: Annual MSA Fee Fortress partner company Effective Date (Income)/Expense Helocyte March 20, 2015 $ 500 Avenue 1 February 17, 2015 — Mustang March 13, 2015 500 Checkpoint March 17, 2015 500 Cellvation October 31, 2016 500 Baergic March 9, 2017 500 Cyprium March 13, 2017 500 Aevitas July 28, 2017 500 Oncogenuity February 10, 2017 500 FBIO Acquisition Corp. VIII November 7, 2017 500 Fortress (4,500) Consolidated (Income)/Expense $ — Note 1: Concurrently with the execution and delivery of the Avenue SPMA entered into among, Avenue, the Company and InvaGen Pharmaceuticals Inc. (“InvaGen”) (together, the “SPMA Parties”), the SPMA Parties entered into a waiver agreement (the “Waiver Agreement”), pursuant to which the Company irrevocably waived its right to receive the annual dividend of Avenue’s common shares under the terms of the Class A preferred stock and any fees, payments, reimbursements or other distributions under the management services agreement between the Company and Avenue and the Founders Agreement, for the period from the effective date of the Waiver Agreement until such time as InvaGen beneficially owns less than 75% of the shares of Avenue common stock it acquired under the first closing of the Avenue SPMA. Pursuant to the Waiver Agreement, immediately prior to the closing of the Merger Transaction contemplated under the Avenue SPMA, the Company will convert all of its preferred shares into common shares pursuant to the terms of the certificate of incorporation of Avenue, as amended from time to time. (See Note 3).

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2021
Segment Information
Schedule of Segment Information	The Company operates in two reportable segments, Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development. The accounting policies of the Company’s segments are the same as those described in Note 2. The following tables summarize, for the periods indicated, operating results from continued operations by reportable segment: Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product Three Months Ended June 30, 2021 Sales Development Consolidated Net revenue $ 15,288 $ 2,555 $ 17,843 Direct cost of goods (7,484) — (7,484) Sales and marketing costs (6,535) — (6,535) Research and development (10,029) (23,805) (33,834) General and administrative (1,084) (11,763) (12,847) Other expense (4,683) 23,149 18,466 Segment loss $ (14,527) (9,864) $ (24,391) Pharmaceutical and Dermatology Biotechnology ($ in thousands) Products Product Three Months Ended June 30, 2020 Sales Development Consolidated Net revenue $ 9,415 $ 42 $ 9,457 Direct cost of goods (3,124) — (3,124) Sales and marketing costs (3,400) — (3,400) Research and development — (17,273) (17,273) General and administrative (1,349) (9,707) (11,056) Other expense (172) (2,895) (3,067) Segment income (loss) $ 1,370 $ (29,833) $ (28,463) Pharmaceutical and Dermatology Biotechnology Products Product Six Months Ended June 30, 2021 Sales Development Consolidated Net revenue $ 26,007 $ 3,423 $ 29,430 Direct cost of goods (11,392) — (11,392) Sales and marketing costs (11,605) — (11,605) Research and development (10,029) (43,959) (53,988) General and administrative (2,240) (23,079) (25,319) Other Expenses (4,904) 27,321 22,417 Segment loss $ (14,163) $ (36,294) $ (50,457) Pharmaceutical and Dermatology Biotechnology Products Product Six Months Ended June 30, 2020 Sales Development Consolidated Net revenue $ 21,361 $ 1,014 $ 22,375 Direct cost of goods (6,934) — (6,934) Sales and marketing costs (8,079) — (8,079) Research and development — (32,390) (32,390) General and administrative (2,302) (19,594) (21,896) Other expense (379) (5,228) (5,607) Segment income (loss) $ 3,667 $ (56,198) $ (52,531) The following tables summarize, for the periods indicated, total assets by reportable segment: Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product June 30, 2021 Sales Development Total Assets Intangible assets, net $ 13,701 $ — $ 13,701 Tangible assets 53,712 350,745 404,457 Total segment assets $ 67,413 $ 350,745 $ 418,158 Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product December 31, 2020 Sales Development Total Assets Intangible assets, net $ 14,629 $ — $ 14,629 Tangible assets 35,422 283,362 318,784 Total segment assets $ 50,051 $ 283,362 $ 333,413

Revenues from Contracts and S_2

Revenues from Contracts and Significant Customers (Tables)	6 Months Ended
Revenues from Contracts and Significant Customers (Tables)	Jun. 30, 2021
Revenues from Contracts and Significant Customers
Schedule of disaggregation of total revenues	Product revenue is comprised of Journey’s seven marketed products: Targadox®, Luxamend®, Ceracade®, Exelderm®, Ximino®, Accutane® and Qbrexza®. Substantially all of the product revenue is recorded in the U.S. The Company’s collaboration revenue is from Cyprium’s agreement with Sentynl (see Note 3). The Company’s related party revenue is from Checkpoint’s collaborations with TGTX. The table below summarizes the Company’s revenue for the three and six months ending June 30, 2021 and 2020: Three months ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenue Product revenue, net $ 15,288 $ 9,415 $ 26,007 $ 21,361 Collaboration revenue 2,400 — 3,200 — Revenue – related party 155 42 223 1,014 Net revenue $ 17,843 $ 9,457 $ 29,430 $ 22,375

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Accounting Policies [Line Items]
Restricted cash				$ 16.6
Return reserves related to accounts receivable reclassified to current liabilities			$ 4.6
Notes Payable [Member]
Accounting Policies [Line Items]
Restricted cash				15
Letter of Credit [Member]
Accounting Policies [Line Items]
Restricted cash		$ 1.6		$ 1.6
Maximum [Member]
Accounting Policies [Line Items]
Ownership percentage of the subsidiary to consolidate their accounts		100.00%
Maximum [Member] \| Maintains Voting Control [Member]
Accounting Policies [Line Items]
Ownership percentage of the subsidiary to consolidate their accounts		50.00%
Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member]
Accounting Policies [Line Items]
Preferred Stock, dividend rate percentage	8.00%	8.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies
Cash and cash equivalents	$ 274,992	$ 233,351	$ 183,278
Restricted cash	1,645		16,574
Total cash and cash equivalents and restricted cash	$ 276,637	$ 234,996	$ 199,852	$ 153,432

Collaboration and Stock Purch_2

Collaboration and Stock Purchase Agreements (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Feb. 24, 2021	Feb. 08, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cash and cash equivalents			$ 274,992	$ 183,278	$ 274,992	$ 183,278	$ 233,351
Collaboration revenue			2,400	$ 0	3,200	0
Accumulated deficit			(495,117)		(495,117)		$ (482,760)
Cyprium [Member] \| Sentynl Therapeutics, Inc [Member]
Upfront fees payment	$ 8,000
Payments of milestones	$ 12,000
Percentage of ownership over any FDA priority review voucher	100.00%
Collaboration revenue			2,400		3,200	$ 0
Avenue [Member]
Cash and cash equivalents			1,100		1,100
Accumulated deficit			$ (75,200)		(75,200)
SPMA [Member] \| Minimum [Member] \| Avenue [Member] \| InvaGen [Member]
Percentage of common shares acquired in the Stock Purchase Transaction for the rights to exist		75.00%
SPMA [Member] \| Maximum [Member] \| Avenue [Member] \| InvaGen [Member]
Business Combination, possible Interim financing		$ 7,000
FDA approval of the NDA [Member] \| Cyprium [Member] \| Sentynl Therapeutics, Inc [Member]
Payments of milestones	$ 9,000
Achievement of Certain Sales Milestones [Member] \| Maximum [Member] \| Cyprium [Member] \| Sentynl Therapeutics, Inc [Member]
Payments of milestones	255,000
Strategic Transaction, First Stage [Member] \| SPMA [Member] \| Avenue [Member] \| InvaGen [Member]
Sale of stock, number of shares issued		5.8
Sale of stock, price per share		$ 6
Sale of Stock, Consideration Received on Transaction		$ 35,000
Sale of stock, ownership percentage after the transaction		33.30%
Strategic Transaction, Second Stage [Member] \| SPMA [Member] \| Avenue [Member] \| InvaGen [Member]
Sale of Stock, Consideration Received on Transaction		$ 180,000
Completion of Clinical Development Milestones [Member] \| Cyprium [Member] \| Sentynl Therapeutics, Inc [Member]
Payments of milestones	$ 3,000
IV Tramadol [Member] \| FDA approval of the NDA [Member] \| Avenue [Member]
Payments of milestones					$ 5,000

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) $ in Millions	6 Months Ended
Inventory (Narrative) (Details) $ in Millions	Jun. 30, 2021USD ($)
Inventory
Finished good inventory, fair value	$ 5.7

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property and Equipment
Raw materials	$ 4,907	$ 0
Work-in-process	0	0
Finished goods	9,408	1,404
Total inventories	$ 14,315	$ 1,404

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Property and Equipment
Depreciation expense	$ 600	$ 600	$ 1,212	$ 1,103

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 21,104	$ 18,689
Less: Accumulated depreciation	(7,978)	(6,766)
Property and equipment, net	13,126	11,923
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 663	663
Useful Life (Years)	3 years
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 1,211	1,199
Useful Life (Years)	5 years
Machinery & equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 6,295	5,748
Useful Life (Years)	5 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 10,580	10,580
Leasehold improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful Life (Years)	15 years
Leasehold improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful Life (Years)	2 years
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 2,355	$ 499

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)$ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common stock, value	$ 97	$ 95
Caelum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investment	$ 48,500		$ 48,500
Caelum [Member] \| Share Price [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, measurement input \| $ / shares	6.717		6.717
Caelum [Member] \| Risk Free Interest Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, measurement input	0.0087
Caelum [Member] \| Expected Volatility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, measurement input	0.70
Caelum [Member] \| Discount for Lack of Marketability [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, measurement input	0.137
Caelum [Member] \| Discount for Lack of Marketability [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, measurement input	0.30
Journey [Member] \| DFD Agreement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common stock, value	$ 150,000
Journey [Member] \| DFD Agreement [Member] \| Dr. Reddy's Laboratories, Ltd [Member] \| Contingent Conditions are Met [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common stock, value	$ 5,000
Journey [Member] \| DFD Agreement [Member] \| Dr. Reddy's Laboratories, Ltd [Member] \| Contingent Conditions are not Met [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent payment warrants, agreement terms	Journey or its affiliate executes a definitive agreement for an acquisition event during the period beginning on the Effective Date and ending twenty-four (24) months after the regulatory approval of DFD-29, Journey shall pay to DRL: (a) 20% of the value of DFD-29 attributable to the acquisition event, if such acquisition event occurs between closing and NDA approval; or (b) 12% of the value of DFD-29 attributable to the acquisition event, if such acquisition event occurs within 24 months after
Placement Agent Warrants [Member] \| Journey [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, value	$ 500
Contingent Payment Warrant [Member] \| Journey [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, value	$ 3,700	$ 0

Fair Value Measurements (Weight

Fair Value Measurements (Weighted average Significant Unobservable Inputs) (Details) - Journey [Member]	Jun. 30, 2021USD ($)YM
Placement Agent Warrants [Member] \| Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.0087
Placement Agent Warrants [Member] \| Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input \| Y	1.3
Placement Agent Warrants [Member] \| Expected Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.50
Placement Agent Warrants [Member] \| Probability of Outcome [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.70
Contingent Payment Warrant [Member] \| Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.30
Contingent Payment Warrant [Member] \| Expected Dividend Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0
Contingent Payment Warrant [Member] \| Expected Term [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input \| M	3
Contingent Payment Warrant [Member] \| Expected Term [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input \| Y	5
Contingent Payment Warrant [Member] \| Probability of Outcome [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.03
Contingent Payment Warrant [Member] \| Probability of Outcome [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.70

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Financial Instruments, Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets
Assets, fair value	$ 48,484	$ 17,566
Liabilities
Liabilities, fair value	4,287
Caelum [Member]
Assets
Assets, fair value	48,484	17,566
Warrants [Member]
Liabilities
Liabilities, fair value	4,287
Level 1 [Member]
Assets
Assets, fair value	0
Liabilities
Liabilities, fair value	0
Level 1 [Member] \| Caelum [Member]
Assets
Assets, fair value	0
Level 1 [Member] \| Warrants [Member]
Liabilities
Liabilities, fair value	0
Level 2 [Member]
Assets
Assets, fair value	0
Liabilities
Liabilities, fair value	0
Level 2 [Member] \| Caelum [Member]
Assets
Assets, fair value	0
Level 2 [Member] \| Warrants [Member]
Liabilities
Liabilities, fair value	0
Level 3 [Member]
Assets
Assets, fair value	48,484	17,566
Liabilities
Liabilities, fair value	4,287
Level 3 [Member] \| Caelum [Member]
Assets
Assets, fair value	48,484	$ 17,566
Level 3 [Member] \| Warrants [Member]
Liabilities
Liabilities, fair value	$ 4,287

Fair Value Measurements (Roll F

Fair Value Measurements (Roll Forward of the Changes in Fair Value of Level 3 Financial Instruments) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Warrants [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Beginning Balance	$ 0
Liabilities, Ending Balance	4,287
Contingent Payment Warrant [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Additions during the period	3,743
Placement Agent Warrants [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Additions during the period	544
Caelum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment, Beginning Balance	17,566
Change in fair value of investments	30,918
Investment, Ending Balance	$ 48,484

Licenses Acquired (Narrative) (

Licenses Acquired (Narrative) (Details)	Jun. 29, 2021USD ($)	Apr. 01, 2021USD ($)item	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired			$ 11,003,000	$ 1,570,000	$ 11,129,000	$ 1,820,000
Licensing Agreements [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired			11,003,000	1,570,000	11,129,000	1,820,000
Journey [Member] \| Licensing Agreements [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired			10,000,000		10,000,000
Journey [Member] \| Licensing Agreements [Member] \| Dr. Reddy's Laboratories, Ltd [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront fees payment	$ 10,000,000
Payments of milestones	2,000,000
Maintenance fees	24,000,000
Journey [Member] \| Licensing Agreements [Member] \| Dr. Reddy's Laboratories, Ltd [Member] \| Achievement of Certain clinical Development, Regulatory and First Commercial Sale milestones [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Payments of milestones	163,000,000
Journey [Member] \| Licensing Agreements [Member] \| Dr. Reddy's Laboratories, Ltd [Member] \| Payable 90 days Following the Effective Date [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront fees payment	$ 8,000,000
Mustang [Member] \| Licensing Agreements [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired			1,000,000	1,300,000	1,000,000	1,550,000
Mustang [Member] \| Licensing Agreements [Member] \| Mayo Clinic [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront fees payment		$ 800,000
Research and development - licenses acquired			$ 750,000	$ 0	$ 750,000	$ 0
Annual Maintenance Fee Payable		$ 25,000
Number of development milestones \| item		11
Mustang [Member] \| Licensing Agreements [Member] \| Maximum [Member] \| Mayo Clinic [Member] \| Achievement of Certain clinical Development, Regulatory and First Commercial Sale milestones [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Payments of milestones		$ 92,600,000

Licenses Acquired (Schedule of

Licenses Acquired (Schedule of Research and Development for Licenses Acquired) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	$ 11,003	$ 1,570	$ 11,129	$ 1,820
Licensing Agreements [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	11,003	1,570	11,129	1,820
Licensing Agreements [Member] \| Journey [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	10,000		10,000
Licensing Agreements [Member] \| Mustang [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	1,000	1,300	1,000	1,550
Licensing Agreements [Member] \| Aevitas [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	2		27
Licensing Agreements [Member] \| Oncogenuity [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	1	270	1	270
Licensing Agreements [Member] \| FBIO Acquisition Corp VIII [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired			101
Licensing Agreements [Member] \| City of Hope (COH) [Member] \| Mustang [Member] \| MB-101 (IL13R2 CAR T for Glioblastoma) [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired		333		333
Licensing Agreements [Member] \| City of Hope (COH) [Member] \| Mustang [Member] \| MB-102 (CD 123 CAR T for AML) [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	250	334	250	334
Licensing Agreements [Member] \| City of Hope (COH) [Member] \| Mustang [Member] \| MB-103 (HER2 CAR T) [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired				250
Licensing Agreements [Member] \| City of Hope (COH) [Member] \| Mustang [Member] \| MB-105 (PSCA CAR T) [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired		333		333
Licensing Agreements [Member] \| Fred Hutchinson Cancer Research Center [Member] \| Mustang [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired		300		300
Licensing Agreements [Member] \| Mayo Clinic [Member] \| Mustang [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	$ 750	$ 0	$ 750	$ 0

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Thousands	May 13, 2021	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Purchase of intangible asset		$ 400	$ 0
Qbrexza [Member] \| Journey [Member] \| Dermira, Inc. a subsidiary of Eli Lilly [Member]
Finite-Lived Intangible Assets [Line Items]
Percentage of royalty amounts diminution in the event of loss of exclusivity	50.00%
Purchase of intangible asset	$ 12,500
Intangible assets, estimated useful lives		7 years
Payments of milestones	$ 144,000

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Total intangible assets - asset purchases	$ 19,003	$ 18,606
Accumulated amortization	(5,302)	(3,977)
Net intangible assets	$ 13,701	$ 14,629
Minimum [Member]
Intangible assets, estimated useful lives	3 years
Maximum [Member]
Intangible assets, estimated useful lives	7 years

Intangibles (Schedule of JMC Re

Intangibles (Schedule of JMC Recognized Expense Related to its Product Licenses) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
Beginning balance	$ 14,629
Ending balance	13,701
Journey [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	14,629
Exelderm milestone	397
Amortization expense	(1,325)
Ending balance	$ 13,701

Intangibles (Schedule of Future

Intangibles (Schedule of Future Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Net intangible assets	$ 13,701	$ 14,629
Journey [Member]
Finite-Lived Intangible Assets [Line Items]
Six months ending December 31, 2021	1,149
Year ended December 31, 2022	1,965
Year ended December 31, 2023	1,964
Year ended December 31, 2024	1,965
Year ended December 31, 2025	1,964
Thereafter	752
Sub-total	9,759
Net intangible assets	13,701	$ 14,629
Journey [Member] \| Ximino [Member]
Finite-Lived Intangible Assets [Line Items]
Six months ending December 31, 2021	509
Year ended December 31, 2022	1,019
Year ended December 31, 2023	1,019
Year ended December 31, 2024	1,019
Year ended December 31, 2025	1,019
Thereafter	595
Sub-total	5,180
Net intangible assets	5,180
Journey [Member] \| Exelderm [Member]
Finite-Lived Intangible Assets [Line Items]
Six months ending December 31, 2021	167
Sub-total	167
Net intangible assets	167
Journey [Member] \| Accutane [Member]
Finite-Lived Intangible Assets [Line Items]
Six months ending December 31, 2021	473
Year ended December 31, 2022	946
Year ended December 31, 2023	945
Year ended December 31, 2024	946
Year ended December 31, 2025	945
Thereafter	157
Sub-total	4,412
Net intangible assets	4,412
Journey [Member] \| Anti-itch Product [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets not yet placed in service	$ 3,942

Debt and Interest (Narrative) (

Debt and Interest (Narrative) (Details) - USD ($)	Aug. 27, 2020	Jul. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Aug. 29, 2020
Debt Instrument [Line Items]
Total notes payable			$ 52,263,000			$ 52,263,000		$ 51,677,000
Unamortized debt discount fees			7,737,000			7,737,000		$ 8,323,000
Debt instrument, interest expense			$ 2,166,000		$ 2,399,000	$ 4,046,000	$ 4,777,000
Debt instrument, stated interest rate			11.00%			11.00%
Debt issuance fees						$ 8,700,000
Fair Value Adjustment of Warrants			$ 3,925,000		344,000	3,925,000	386,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense			14,000		16,000	23,000	31,000
IDB Note Payable [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense			0		85,000	0	169,000
2017 Subordinated Note Financing [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense			0		1,092,000	0	2,176,000
Payment of debt issuance fees						0	26,000
Oaktree Note [Member]
Debt Instrument [Line Items]
Debt instrument face amount	$ 60,000,000
Debt instrument, interest expense			1,669,000		0	3,319,000	0
Debt instrument, stated interest rate	11.00%
Percentage of upfront commitment fee	3.00%
Upfront Commitment Fee	$ 1,800,000
Debt issuance fees						1,800,000
Agency fees payment	35,000
Payment of expenses to third parties	$ 2,500,000					2,500,000
Exercise price of warrants									$ 3.20
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,749,450
Warrants, fair value	$ 4,400,000		4,400,000			4,400,000
Payment of debt issuance fees						60,000	0
Oaktree Note [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights									1,749,450
Mustang Horizon Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense			0		349,000	0	690,000
2018 Venture Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense			0		$ 433,000	0	866,000
Payment of debt issuance fees						0	$ 22,000
Journey [Member]
Debt Instrument [Line Items]
Sale of stock, net proceeds		$ 4,200,000
Journey [Member] \| East West Bank ("EWB Loan") [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 7,500,000
Payment of debt issuance fees						56,250
Legal fees						$ 100,000
Basis spread on variable rate						1.00%
Credit facility, amount outstanding			0			$ 0
Borrowing base as a percentage of accounts receivable				85.00%
Deferred loan origination fees			$ 100,000			$ 100,000

Debt and Interest (Schedule of

Debt and Interest (Schedule of Debt) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Aug. 27, 2020
Debt Instrument [Line Items]
Total notes payable, gross	$ 60,000	$ 60,000
Less: Discount of notes payable	(7,737)	(8,323)
Total notes payable	$ 52,263	$ 51,677
Interest rate	11.00%
Maturity Date, description	August 31, 2025
Oaktree Note [Member]
Debt Instrument [Line Items]
Interest rate			11.00%

Debt and Interest ( Partner com

Debt and Interest ( Partner company installment payments) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	$ 4,500	$ 5,300
Less: imputed interest	(639)	(778)
Sub-total partner company installment payments - licenses, short-term	3,861	4,522
Partner company installment payments - licenses, long-term	7,000	9,000
Less: imputed interest	(565)	(863)
Sub-total partner company installment payments - licenses, long-term	6,435	8,137
Total partner company installment payments - licenses	10,296	12,659
Ximino [Member]
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	2,000	2,000
Less: imputed interest	(517)	(602)
Sub-total partner company installment payments - licenses, short-term	1,483	1,398
Partner company installment payments - licenses, long-term	5,000	5,000
Less: imputed interest	(519)	(775)
Sub-total partner company installment payments - licenses, long-term	4,481	4,225
Total partner company installment payments - licenses	$ 5,964	$ 5,623
Imputed interest rate	11.96%	11.96%
Accutane [Member]
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	$ 1,000	$ 500
Less: imputed interest	(101)	(122)
Sub-total partner company installment payments - licenses, short-term	899	378
Partner company installment payments - licenses, long-term	2,000	3,000
Less: imputed interest	(46)	(88)
Sub-total partner company installment payments - licenses, long-term	1,954	2,912
Total partner company installment payments - licenses	$ 2,853	$ 3,290
Imputed interest rate	4.03%	4.03%
Anti-itch Product [Member]
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	$ 1,500	$ 2,800
Less: imputed interest	(21)	(54)
Sub-total partner company installment payments - licenses, short-term	1,479	2,746
Partner company installment payments - licenses, long-term	0	1,000
Less: imputed interest	0	0
Sub-total partner company installment payments - licenses, long-term	0	1,000
Total partner company installment payments - licenses	$ 1,479	$ 3,746
Imputed interest rate	4.25%	4.25%

Debt and Interest (Interest Exp

Debt and Interest (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Interest expense, interest	$ 2,166	$ 2,399	$ 4,046	$ 4,777
Amortization of fees	594	660	903	1,407
Interest expense, Total	2,760	3,059	4,949	6,184
Unamortized debt discount fees	7,737		7,737		$ 8,323
Letter of Credit [Member]
Debt Instrument [Line Items]
Interest expense, interest	14	16	23	31
Amortization of fees	0	0	0	0
Interest expense, Total	14	16	23	31
IDB Note Payable [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	85	0	169
Amortization of fees	0	0	0	0
Interest expense, Total	0	85	0	169
2017 Subordinated Note Financing [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	1,092	0	2,176
Amortization of fees	0	204	0	516
Interest expense, Total	0	1,296	0	2,692
Opus Credit Facility (2019 Notes) [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	269	0	538
Amortization of fees	0	0	0	0
Interest expense, Total	0	269	0	538
2018 Venture Notes [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	433	0	866
Amortization of fees	0	186	0	362
Interest expense, Total	0	619	0	1,228
Mustang Horizon Notes [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	349	0	690
Amortization of fees	0	270	0	529
Interest expense, Total	0	619	0	1,219
Oaktree Note [Member]
Debt Instrument [Line Items]
Interest expense, interest	1,669	0	3,319	0
Amortization of fees	324	0	633	0
Interest expense, Total	1,993	0	3,952	0
Partner Company Dividend Payable [Member]
Debt Instrument [Line Items]
Interest expense, interest	263	0	263	0
Amortization of fees	0	0	0	0
Interest expense, Total	263	0	263	0
Partner Company Convertible Preferred Shares [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	0	0	0
Amortization of fees	270	0	270	0
Interest expense, Total	270	0	270	0
NSC Note [Member]
Debt Instrument [Line Items]
Interest expense, interest	220	155	441	305
Amortization of fees	0	0	0	0
Interest expense, Total	220	155	441	305
Other Debt [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	0	0	2
Amortization of fees	0	0	0	0
Interest expense, Total	$ 0	$ 0	$ 0	$ 2

Partner Company Convertible P_2

Partner Company Convertible Preferred Shares (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended	6 Months Ended
	Jul. 31, 2021	Mar. 31, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Stock offering, aggregate fees paid				$ 0	$ 793
Unamortized debt discount fees				7,737		$ 8,323
Journey [Member]
Stock offering, gross proceeds	$ 4,600
Stock offering, aggregate fees paid	500
Sale of stock, net proceeds	$ 4,200
Journey [Member] \| Contingent Payment Warrant [Member]
Change in fair value of warrants				200
Unamortized debt discount fees				$ 400
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member]
Preferred Stock, dividend rate percentage		8.00%		8.00%
Number of common shares issuable as Preferred stock dividend				300,000
Common stock's average 10-day trading price discount percentage		7.50%
Stock offering, sales agreement termination date			Jul. 18, 2021
Stock offering, number of shares issued				573,280
Sale of stock, price per share				$ 25
Stock offering, gross proceeds				$ 14,300
Stock offering, aggregate fees paid				1,400
Payments of other stock issuance costs				300
Sale of stock, net proceeds				12,600
Partner company share-settled notes				14,300
Unamortized debt discount fees				$ 1,800
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| National Securities Corporation ("NSC") [Member]
Placement agent fee as a percentage of gross proceeds				10.00%
Percentage of common stock into which the Journey Preferred A converts				5.00%
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Preferred Stock has not been Converted into Journey Common Stock [Member]
Preferred stock offering, aggregate proceeds		$ 25,000
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Sale of Journey or a Qualified Financing [Member] \| National Securities Corporation ("NSC") [Member]
Percentage of common stock for which the Preferred A is exchanged				5.00%
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Maximum [Member]
Preferred stock offering, aggregate proceeds		$ 30,000
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Minimum [Member]
Preferred stock offering, aggregate proceeds			$ 12,500

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounts Payable and Accrued Expenses
Long-term notes payable, net (Journey)	$ 52,263		$ 51,677
Amortization of interest discount	$ 903	$ 1,407

Accounts Payable and Accrued _4

Accounts Payable and Accrued Expenses (Schedule of Accounts Payable and Accrued Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued expenses:
Accounts Payable	$ 14,271	$ 11,412
Professional fees	1,205	1,236
Salaries, bonus and related benefits	5,207	6,701
Research and development	4,063	5,007
Research and development - manufacturing	0	518
Research and development - license fees	8,000	0
Research and development - license maintenance fees	627	461
Research and development - milestones	1,115	600
Accrued royalties payable	3,340	2,682
Accrued coupon expense	18,609	12,869
Income taxes payable	0	136
Return reserve	2,099	2,580
Other	1,370	1,187
Total accrued expenses	$ 59,906	$ 45,389

Non-Controlling Interests (Sche

Non-Controlling Interests (Schedule of Non-Controlling Interests in Consolidated Entities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Noncontrolling Interest [Line Items]
NCI equity share	$ 178,120		$ 178,120		$ 153,120
Net loss attributable to non-controlling interests	(20,856)	$ (15,149)	(38,100)	$ (26,847)	(56,459)
Non-controlling interests in consolidated entities	140,020		140,020		96,661
FBIO Acquisition Corp VIII [Member]
Noncontrolling Interest [Line Items]
NCI equity share	(202)		(202)		(7)
Net loss attributable to non-controlling interests			(96)		(27)
Non-controlling interests in consolidated entities	$ (298)		$ (298)		$ (34)
Non-controlling ownership	32.00%		32.00%		10.00%
Aevitas [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (4,022)		$ (4,022)		$ (2,370)
Net loss attributable to non-controlling interests			(567)		(823)
Non-controlling interests in consolidated entities	$ (4,589)		$ (4,589)		$ (3,193)
Non-controlling ownership	46.60%		46.60%		39.00%
Avenue [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 2,004		$ 2,004		$ 5,800
Net loss attributable to non-controlling interests			(1,507)		(3,974)
Non-controlling interests in consolidated entities	$ 497		$ 497		$ 1,826
Non-controlling ownership	77.40%		77.40%		77.40%
Baergic [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (1,916)		$ (1,916)		$ (1,662)
Net loss attributable to non-controlling interests			(20)		(97)
Non-controlling interests in consolidated entities	$ (1,936)		$ (1,936)		$ (1,759)
Non-controlling ownership	39.50%		39.50%		39.50%
Cellvation [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (1,356)		$ (1,356)		$ (1,089)
Net loss attributable to non-controlling interests			(70)		(182)
Non-controlling interests in consolidated entities	$ (1,426)		$ (1,426)		$ (1,271)
Non-controlling ownership	22.10%		22.10%		22.10%
Checkpoint [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 57,779		$ 57,779		$ 41,704
Net loss attributable to non-controlling interests			(11,643)		(13,265)
Non-controlling interests in consolidated entities	$ 46,136		$ 46,136		$ 28,439
Non-controlling ownership	81.10%		81.10%		80.40%
Coronado SO [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (290)		$ (290)		$ (290)
Net loss attributable to non-controlling interests			0		0
Non-controlling interests in consolidated entities	$ (290)		$ (290)		$ (290)
Non-controlling ownership	13.00%		13.00%		13.00%
Cyprium [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (1,157)		$ (1,157)		$ 567
Net loss attributable to non-controlling interests			(638)		(1,478)
Non-controlling interests in consolidated entities	$ (1,795)		$ (1,795)		$ (911)
Non-controlling ownership	29.80%		29.80%		30.50%
Helocyte [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (5,305)		$ (5,305)		$ (4,986)
Net loss attributable to non-controlling interests			(47)		(259)
Non-controlling interests in consolidated entities	$ (5,352)		$ (5,352)		$ (5,245)
Non-controlling ownership	18.30%		18.30%		18.80%
JMC [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 800		$ 800		$ 138
Net loss attributable to non-controlling interests			(1,182)		491
Non-controlling interests in consolidated entities	$ (382)		$ (382)		$ 629
Non-controlling ownership	7.20%		7.20%		7.10%
Mustang [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 133,046		$ 133,046		$ 116,060
Net loss attributable to non-controlling interests			(22,066)		(36,429)
Non-controlling interests in consolidated entities	$ 110,980		$ 110,980		$ 79,631
Non-controlling ownership	82.20%		82.20%		80.90%
Oncogenuity [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (540)		$ (540)		$ (82)
Net loss attributable to non-controlling interests			(264)		(376)
Non-controlling interests in consolidated entities	$ (804)		$ (804)		$ (458)
Non-controlling ownership	24.90%		24.90%		25.30%
Tamid [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (721)		$ (721)		$ (663)
Net loss attributable to non-controlling interests			0		(40)
Non-controlling interests in consolidated entities	$ (721)		$ (721)		$ (703)
Non-controlling ownership	22.80%		22.80%		22.80%

Net Loss per Common Share (Sche

Net Loss per Common Share (Schedule of Diluted Weighted Average Shares Outstanding) (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding	21,955,984	18,759,552
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding	4,522,654	2,784,037
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding	828,490	1,210,502
Unvested Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding	16,389,156	14,306,355
Unvested Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from the computations of diluted weighted average shares outstanding	215,684	458,658

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	Aug. 29, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Aug. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 8,123,000	$ 7,148,000
Stock options, unrecognized compensation expense		$ 0		0
Stock-based compensation expense		$ 4,350,000	$ 3,748,000	$ 8,123,000	7,148,000
Outstanding warrants		4,505,621		4,505,621		4,590,621
Oaktree Note [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of market price of common stock for additional warrants	95.00%
Warrants expiration date	Aug. 27, 2030
Fair value assumptions, expected term	10 years
Fair value assumptions, expected volatility rate	0.868%
Fair value assumptions, risk free interest rate	0.74%
Fair value assumptions, expected return	$ 4,800,000
Warrants, fair value		$ 4,400,000		$ 4,400,000			$ 4,400,000
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		800,000	900,000	2,000,000	1,800,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 3,600,000	2,900,000	$ 6,100,000	5,400,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Predetermined fair value percentage during offering period		85.00%		85.00%
Shares purchased in connection with the ESPP offering				636,408
Number of shares available for future issuance		363,592		363,592
Stock-based compensation expense		$ 35,000	25,000
Restricted Stock Awards and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense for awards other than options		23,500,000	17,100,000	$ 23,500,000	$ 17,100,000
Share-based compensation, period for recognition of expense				3 years 2 months 12 days	4 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted				2,330,678
Weighted average grant price, Granted				$ 3.17
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted				1,112,666
Weighted average grant price, Granted				$ 4.13
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 0	$ 65,000	$ 0	$ 65,000

Stockholders' Equity (Capital R

Stockholders' Equity (Capital Raises) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 23, 2021	Oct. 23, 2020	Jul. 31, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, aggregate fees paid						$ 0	$ 793
Preferred Stock, liquidation preference per share					$ 25	$ 25		$ 25
Journey [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, gross proceeds			$ 4,600
Stock offering, aggregate fees paid			500
Sale of stock, net proceeds			$ 4,200
Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued						573,280
Stock offering, price per share					25	$ 25
Stock offering, gross proceeds						$ 14,300
Stock offering, aggregate fees paid						1,400
Sale of stock, net proceeds						$ 12,600
Preferred Stock, dividend rate percentage				8.00%		8.00%
At the Market Offering [Member] \| MLV & Co. and FBR Capital Markets & Co [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued						0	9,300,000
Stock offering, price per share							$ 2.47
Stock offering, gross proceeds							$ 23,000
Stock offering, aggregate fees paid							$ 700
At the Market Offering [Member] \| Checkpoint [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued						10,400,000	1,303,282
Stock offering, price per share					3.42	$ 3.42	$ 2.05
Stock offering, gross proceeds						$ 35,600	$ 2,700
Sale of stock, net proceeds						$ 34,700	$ 2,600
At the Market Offering [Member] \| Checkpoint [Member] \| Common Stock [Member] \| Founders Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued						259,990	32,571
Stock offering, price per share					3.41	$ 3.41	$ 2.01
At the Market Offering [Member] \| Mustang [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued						16,200,000	2,100,000
Stock offering, price per share					$ 3.94	$ 3.94	$ 3.76
Stock offering, gross proceeds						$ 63,800	$ 8,000
Stock offering, aggregate fees paid						$ 1,200	$ 100
At the Market Offering [Member] \| Mustang [Member] \| Common Stock [Member] \| Founders Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued					452,965		53,390
Stock offering, price per share					$ 3.50	$ 3.50	$ 3.76
Shelf Registration Statement [Member] \| Checkpoint [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount available for future stock offerings					$ 60,300	$ 60,300
Shelf Registration Statement [Member] \| Mustang [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued						0
Stock offering, aggregate offering permitted by the agreement	$ 200,000	$ 100,000
Amount available for future stock offerings					$ 22,300	$ 22,300

Stockholders' Equity (Stock-Bas

Stockholders' Equity (Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4,350	$ 3,748	$ 8,123	$ 7,148
Avenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	116	216	230	431
Checkpoint [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	766	731	1,540	1,370
Mustang [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	547	957	1,543	1,762
Other Partners [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	32	47	66	116
Employee Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,888	1,315	3,376	2,532
Executive Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	348	366	693	767
Non-Employee Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	653	51	675	105
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 65	$ 0	$ 65

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Option Activities) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options vested and expected to vest, Number of shares	1,053,490
Number of shares, Forfeited	(25,000)
Options vested and expected to vest, Number of shares	1,028,490	1,053,490
Options vested and expected to vest, Weighted average exercise price	$ 5.02
Weighted average exercise price, Forfeited	4.88
Options vested and expected to vest, Weighted average exercise price	$ 5.02	$ 5.02
Total weighted average intrinsic value, Options vested and expected to vest	$ 647,482
Total weighted average intrinsic value, Options vested and expected to vest	$ 824,878	$ 647,482
Options vested and expected to vest, Weighted average contractual life	2 years 1 month 24 days	2 years 7 months 17 days

Stockholders' Equity (Restricte

Stockholders' Equity (Restricted Stock Awards and Restricted Stock Units) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Restricted Stock Awards and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Unvested balance	18,437,513	15,507,504
Weighted average grant price, Unvested balance	$ 2.66	$ 2.49
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted	2,330,678
Number of shares, Vested	(236,668)
Weighted average grant price, Granted	$ 3.17
Weighted average grant price, Vested	$ 2.75
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Granted	1,112,666
Number of shares, Vested	(197,917)
Number of shares, Forfeited	(78,750)
Weighted average grant price, Granted	$ 4.13
Weighted average grant price, Vested	3.48
Weighted average exercise price, Forfeited	$ 3.47

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Warrant activities) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Outstanding warrants	4,505,621	4,590,621
Warrants forfeited, Number of shares	(25,000)
Warrants expired, Number of shares	(60,000)
Warrants exercisable, Number of shares	4,370,621
Warrants outstanding, Weighted average exercise price	$ 3.20	$ 3.17
Warrants forfeited, Weighted average exercise price	3
Warrants expired, Weighted average exercise price	1.37
Warrants exercisable, Weighted average exercise price	$ 3.23
Warrants outstanding, Weighted average intrinsic value	$ 1,958,891	$ 607,848
Warrants expired, Weighted average intrinsic value	0
Warrants forfeited, Weighted average intrinsic value	0
Warrants exercisable, Weighted average intrinsic value	$ 1,754,141
Warrants, Weighted average remaining contractual life	4 years 5 months 8 days	4 years 10 months 6 days
Warrants exercisable, Weighted average remaining contractual life	4 years 4 months 9 days

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Millions	Jun. 30, 2021USD ($)
Indemnification Agreement [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 35

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Related Party Transactions (Narrative) (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Revenue from TGTX	$ 155,000	$ 42,000	$ 223,000	$ 1,014,000
Debt instrument, stated interest rate	11.00%		11.00%
Interest paid	$ 2,760,000	3,059,000	$ 4,949,000	6,184,000
2018 Venture Notes [Member]
Related Party Transaction [Line Items]
Interest paid	0	619,000	0	1,228,000
2017 Subordinated Note Financing [Member]
Related Party Transaction [Line Items]
Interest paid	$ 0	1,296,000	$ 0	2,692,000
Chief Executive Officer (Dr. Rosenwald) [Member]
Related Party Transaction [Line Items]
Interest own in percent by principal stockholder or director	10.70%		10.70%
Executive Vice Chairman [Member]
Related Party Transaction [Line Items]
Interest own in percent by principal stockholder or director	11.60%		11.60%
TGTX [Member]
Related Party Transaction [Line Items]
Related party transaction, receivables	$ 34,000		$ 34,000
Shared Services Agreement [Member] \| TGTX [Member]
Related Party Transaction [Line Items]
Revenue from TGTX	100,000	100,000	200,000	200,000
Desk Share Agreements [Member] \| TGTX and OPPM [Member] \| New York, NY Office Space [Member]
Related Party Transaction [Line Items]
Related party transaction, receivables	0		0
Total payment for rent	700,000	700,000
Desk Share Agreements [Member] \| OPPM [Member] \| New York, NY Office Space [Member]
Related Party Transaction [Line Items]
Related party transaction, receivables	0	0	0	0
Desk Share Agreements [Member] \| TGTX [Member] \| New York, NY Office Space [Member]
Related Party Transaction [Line Items]
Related party transaction, receivables	400,000	400,000	400,000	400,000
Desk Share Agreements [Member] \| TGTX [Member] \| Waltham office space [Member]
Related Party Transaction [Line Items]
Related party transaction, receivables	28,000	29,000	28,000	$ 29,000
Total payment for rent	100,000	$ 100,000
Employee Retention Agreement [Member] \| Avenue [Member]
Related Party Transaction [Line Items]
Amount reimbursable to Avenue	25,000		25,000
Amount payable to Avenue key employees	$ 2,900,000		$ 2,900,000

Related Party Transactions (PIK

Related Party Transactions (PIK Dividend or Equity Fee Payable) (Details)	Feb. 08, 2019	Jun. 30, 2021
Helocyte [Member]
Related Party Transaction [Line Items]
Effective date		Mar. 20, 2015
PIK dividend as a percentage of fully diluted outstanding capitalization		2.50%
Avenue [Member]
Related Party Transaction [Line Items]
Effective date		Feb. 17, 2015
PIK dividend as a percentage of fully diluted outstanding capitalization		0.00%
Mustang [Member]
Related Party Transaction [Line Items]
Effective date		Mar. 13, 2015
PIK dividend as a percentage of fully diluted outstanding capitalization		2.50%
Checkpoint [Member]
Related Party Transaction [Line Items]
Effective date		Mar. 17, 2015
PIK dividend as a percentage of fully diluted outstanding capitalization		0.00%
Annual equity fee as a percentage of fully diluted outstanding capitalization		2.50%
Cellvation [Member]
Related Party Transaction [Line Items]
Effective date		Oct. 31, 2016
PIK dividend as a percentage of fully diluted outstanding capitalization		2.50%
Baergic [Member]
Related Party Transaction [Line Items]
Effective date		Dec. 17, 2019
PIK dividend as a percentage of fully diluted outstanding capitalization		2.50%
Cyprium [Member]
Related Party Transaction [Line Items]
Effective date		Mar. 13, 2017
PIK dividend as a percentage of fully diluted outstanding capitalization		2.50%
Aevitas [Member]
Related Party Transaction [Line Items]
Effective date		Jul. 28, 2017
PIK dividend as a percentage of fully diluted outstanding capitalization		2.50%
Oncogenuity [Member]
Related Party Transaction [Line Items]
Effective date		Apr. 22, 2020
Dividends Paid in kind percentage		2.50%
FBIO Acquisition Corp VIII [Member]
Related Party Transaction [Line Items]
Effective date		Nov. 7, 2017
PIK dividend as a percentage of fully diluted outstanding capitalization		0.00%
Minimum [Member] \| InvaGen [Member] \| SPMA [Member] \| Avenue [Member]
Related Party Transaction [Line Items]
Percentage of common shares acquired in the Stock Purchase Transaction for the rights to exist	75.00%

Related Party Transactions (Man

Related Party Transactions (Management Services Agreement) (Details)	6 Months Ended
	Jun. 30, 2021USD ($)
Related Party Transaction [Line Items]
Fortress - MSA Income	$ (4,500)
Helocyte [Member]
Related Party Transaction [Line Items]
Effective date	Mar. 20, 2015
Consolidated (income) expense	$ 500
Avenue [Member]
Related Party Transaction [Line Items]
Effective date	Feb. 17, 2015
Mustang [Member]
Related Party Transaction [Line Items]
Effective date	Mar. 13, 2015
Consolidated (income) expense	$ 500
Checkpoint [Member]
Related Party Transaction [Line Items]
Effective date	Mar. 17, 2015
Consolidated (income) expense	$ 500
Cellvation [Member]
Related Party Transaction [Line Items]
Effective date	Oct. 31, 2016
Consolidated (income) expense	$ 500
Baergic [Member]
Related Party Transaction [Line Items]
Effective date	Mar. 9, 2017
Consolidated (income) expense	$ 500
Cyprium [Member]
Related Party Transaction [Line Items]
Effective date	Mar. 13, 2017
Consolidated (income) expense	$ 500
Aevitas [Member]
Related Party Transaction [Line Items]
Effective date	Jul. 28, 2017
Consolidated (income) expense	$ 500
Oncogenuity [Member]
Related Party Transaction [Line Items]
Effective date	Feb. 10, 2017
Consolidated (income) expense	$ 500
FBIO Acquisition Corp VIII [Member]
Related Party Transaction [Line Items]
Effective date	Nov. 7, 2017
Consolidated (income) expense	$ 500

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
Segment Information (Narrative) (Details)	Jun. 30, 2021segment
Segment Information
Number of reportable segment	2

Segment Information (Schedule o

Segment Information (Schedule of Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Net Revenue	$ 17,843	$ 9,457	$ 29,430	$ 22,375
Direct cost of goods	(7,484)	(3,124)	(11,392)	(6,934)
Sales and marketing costs	(6,535)	(3,400)	(11,605)	(8,079)
Research and development	(33,834)	(17,273)	(53,988)	(32,390)
General and administrative	(12,847)	(11,056)	(25,319)	(21,896)
Other expense	18,466	(3,067)	22,417	(5,607)
Net loss	(24,391)	(28,463)	(50,457)	(52,531)
Dermatology Products Sales [Member]
Segment Reporting Information [Line Items]
Net Revenue	15,288	9,415	26,007	21,361
Direct cost of goods	(7,484)	(3,124)	(11,392)	(6,934)
Sales and marketing costs	(6,535)	(3,400)	(11,605)	(8,079)
Research and development	(10,029)	0	(10,029)	0
General and administrative	(1,084)	(1,349)	(2,240)	(2,302)
Other expense	(4,683)	(172)	(4,904)	(379)
Net loss	(14,527)	1,370	(14,163)	3,667
Pharmaceutical and Biotechnology Product Development [Member]
Segment Reporting Information [Line Items]
Net Revenue	2,555	42	3,423	1,014
Direct cost of goods	0	0	0	0
Sales and marketing costs	0	0	0	0
Research and development	(23,805)	(17,273)	(43,959)	(32,390)
General and administrative	(11,763)	(9,707)	(23,079)	(19,594)
Other expense	23,149	(2,895)	27,321	(5,228)
Net loss	$ (9,864)	$ (29,833)	$ (36,294)	$ (56,198)

Segment Information (Total asse

Segment Information (Total assets by reportable segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Intangible asset, net	$ 13,701	$ 14,629
Tangible assets	404,457	318,784
Total assets	418,158	333,413
Dermatology Products Sales [Member]
Segment Reporting Information [Line Items]
Intangible asset, net	13,701	14,629
Tangible assets	53,712	35,422
Total assets	67,413	50,051
Pharmaceutical and Biotechnology Product Development [Member]
Segment Reporting Information [Line Items]
Intangible asset, net	0	0
Tangible assets	350,745	283,362
Total assets	$ 350,745	$ 283,362

Revenues from Contracts and S_3

Revenues from Contracts and Significant Customers (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)product	Jun. 30, 2020USD ($)	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Number of marketed products \| product			7
Revenue from Contract with Customer, Including Assessed Tax \| $	$ 15,288	$ 9,415	$ 26,007	$ 21,361
Dermatology Products Sales [Member] \| Customer one [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			13.70%		12.00%

Revenues from Contracts and S_4

Revenues from Contracts and Significant Customers (Company's product revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues from Contracts and Significant Customers
Product revenue, net	$ 15,288	$ 9,415	$ 26,007	$ 21,361
Collaboration revenue	2,400	0	3,200	0
Revenue - related party	155	42	223	1,014
Net revenue	$ 17,843	$ 9,457	$ 29,430	$ 22,375

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	6 Months Ended
Income Taxes (Narrative) (Details)	Jun. 30, 2021
Income taxes
Minimum ownership interest in subsidiaries for consolidated income tax return	80.00%

Sponsored Research and Clinical Trial Agreements	6 Months Ended
Sponsored Research and Clinical Trial Agreements	Jun. 30, 2021
Sponsored Research and Clinical Trial Agreements
Sponsored Research and Clinical Trial Agreements	8. Sponsored Research and Clinical Trial Agreements Aevitas In 2018, Aevitas entered into a Sponsored Research Agreement (“SRA”) with the Trustees of the University of Pennsylvania (“UPenn SRA”), as amended in July 2019, for certain continued research and development activities related to the development of adeno-associated virus (“AAV”) gene therapies in complement-mediated diseases. Also in 2018, Aevitas entered into an SRA with the University of Massachusetts (“UMass SRA”), as amended in January 2020, for certain continued research and development activities related to the development of AAV. For the three and six months ended June 30, 2021 and 2020, Aevitas recorded the following expense in connection with its sponsored research and clinical trial agreements: For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 UMass SRA $ 24 — $ 272 $ — UPenn SRA — — — 281 Total $ 24 $ — $ 272 $ 281 Mustang For the three and six months ended June 30, 2021 and 2020, Mustang recorded the following expense in research and development for sponsored research and clinical trial agreements: For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center $ — $ — $ — $ 500 IL13Rα2 (MB-101) 279 234 793 326 CD123 (MB-102) 21 65 226 296 CS1 (MB-104) 197 770 372 770 HER2 (MB-103) 31 — 154 — PSCA (MB-105) (4) — 46 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) 327 189 998 716 St. Jude Children's Research Hospital - XSCID (MB-107) 176 1,558 280 1,558 Mayo Clinic 233 — 233 — Total $ 1,260 $ 2,816 $ 3,102 $ 4,166 City of Hope Sponsored Research Agreement In March 2015, in connection with Mustang’s license with COH for the development of chimeric antigen receptor (“CAR”) engineered T cell (“CAR T”) technology, Mustang entered into a SRA in which Mustang was to fund continued research in the amount of $2.0 million per year, payable in four equal annual installments, through the first quarter of 2020. The research covered under this arrangement is for the IL13Rα2-directed CAR T program (MB-101), the CD123-directed CAR T program (MB-102), and the Spacer technology. For the six months ended June 30, 2021 and 2020, Mustang recorded expense of nil and $0.5 million, respectively, in research and development expense in the Company’s condensed consolidated statement of operations. IL13Rα2 (MB-101) Clinical Research Support Agreements In February 2017, Mustang entered into a clinical research support agreement for the IL13Rα2-directed CAR T program (the “IL13Rα2 CRA”). Pursuant to the terms of the IL13Rα2 CRA, Mustang made an upfront payment of approximately $9,300 and will contribute an additional $0.1 million related to patient costs in connection with the on-going investigator-initiated study. Further, Mustang agreed to fund approximately $0.2 million over three years pertaining to the clinical development of the IL13Rα2-directed CAR T program. In October 2020, Mustang entered into a clinical research support agreement for the IL13Rα2-directed CAR T program for adult patients with leptomeningeal glioblastoma, ependymoma or medulloblastoma (the “IL13Rα2 Leptomeningeal CRA”). Pursuant to the terms of the IL13Rα2 Leptomeningeal CRA, Mustang made an upfront payment of approximately $29,000 and will contribute an additional $0.1 million per patient in connection with the on-going investigator-initiated study. Further, Mustang agreed to fund approximately $0.2 million annually pertaining to the clinical development of the IL13Rα2-directed CAR T program. In June 2021, Mustang entered into a clinical research support agreement for an Institutional Review Board-approved, investigator-initiated protocol entitled: “Single Patient Treatment with Intraventricular Infusions of IL13Rα2-targeting and HER2-targeting Chimeric Antigen Receptor (CAR)-T cells for a Single Patient (UPN 181) with Recurrent Multifocal Malignant Glioma”. Pursuant to the terms of this agreement, Mustang will contribute up to $0.2 million in connection with the on-going investigator-initiated study. For the three months ended June 30, 2021 and 2020, Mustang recorded $0.3 million and $0.2 million, respectively, pursuant to the terms of these agreements. For the six months ended June 30, 2021 and 2020, Mustang recorded $0.8 million and $0.3 million, respectively, pursuant to the terms of these agreements. CD123 (MB-102) Clinical Research Support Agreement In February 2017, Mustang entered into a clinical research support agreement for the CD123-directed CAR T program (the “CD123 CRA”). Pursuant to the terms of the CD123 CRA, Mustang made an upfront payment of $19,450 and will contribute an additional $97,490 per patient in connection with the on-going investigator-initiated study. Further, Mustang agreed to fund approximately $0.2 million over three years pertaining to the clinical development of the CD123-directed CAR T program. For the three months ended June 30, 2021 and 2020, Mustang recorded $0.1 million and $0.1 million, respectively, pursuant to the terms of this agreement. For the six months ended June 30, 2021 and 2020, Mustang recorded $0.2 million and $0.3 million, respectively, pursuant to the terms of this agreement. CS1 (MB-104) Clinical Research and Support Agreement with COH In June 2020, Mustang entered into a clinical research and support agreement with COH in connection with an Investigator-sponsored study conducted under an Institutional Review Board-approved, investigator-initiated protocol entitled: “Phase I Study to Evaluate Cellular Immunotherapy Using Memory-Enriched T Cells Lentivirally Transduced to Express a CS1-Targeting, Hinge-Optimized, 41BB-Costimulatory Chimeric Antigen Receptor and a Truncated EGFR Following Lymphodepleting Chemotherapy in Adult Patients with CS1+ Multiple Myeloma.” Under the terms of the agreement Mustang paid COH $0.8 million for costs incurred and will reimburse COH for costs associated with this trial, when incurred, not to exceed $2.4 million. The agreement will expire upon the delivery of a final study report or earlier. For the three months ended June 30, 2021 and 2020, Mustang recorded $0.2 million and $0.8 million, respectively, pursuant to the terms of this agreement. For the six months ended June 30, 2021 and 2020, Mustang recorded $0.4 million and $0.8 million, respectively, pursuant to the terms of this agreement. HER2 (MB-103) Clinical Research Support Agreement In September 2020, Mustang entered into a clinical research support agreement with COH in connection with an Investigator-sponsored study conducted under an Institutional Review Board-approved, investigator-initiated protocol entitled: “Phase I Study of Cellular Immunotherapy using Memory-Enriched T Cells Lentivirally Transduced to Express a HER2-Specific, Hinge-Optimized, 41BB-Costimulatory Chimeric Receptor and a Truncated CD19 for Patients with Recurrent/Refractory Malignant Glioma.” Under the terms of the agreement Mustang paid COH $29,375 upon execution and will reimburse COH for costs associated with this trial not to exceed $3.0 million. The agreement will expire upon the delivery of a final study report or earlier. For the three and six months ended June 30, 2021, Mustang recorded $0.0 million and $0.1 million, respectively, pursuant to the terms of this agreement. PSCA (MB-105) Clinical Research Support Agreement In October 2020, Mustang entered into a clinical research support agreement with COH in connection with an Investigator-sponsored study conducted under an Institutional Review Board-approved, investigator-initiated protocol entitled: “A Phase 1b study to evaluate PSCA-specific chimeric antigen receptor (CAR)-T cells for patients with metastatic castration resistant prostate cancer.” Under the terms of the agreement Mustang paid COH $33,000 upon execution and will reimburse COH for costs associated with this trial not to exceed $2.3 million. The agreement will expire upon the delivery of a final study report or earlier. For the six months ended June 30, 2021 and 2020, Mustang recorded $0.1 million and nil, respectively, pursuant to the terms of this agreement. CD20 (MB-106) Clinical Trial Agreement with Fred Hutchinson Cancer Research Center On July 3, 2017, in conjunction with the CD20 Technology License from Fred Hutchinson Cancer Research Center (“Fred Hutch”), Mustang entered into an investigator-initiated clinical trial agreement (the “CD20 CTA”) to provide partial funding for a Phase 1/2 clinical trial at Fred Hutch evaluating the safety and efficacy of the CD20 Technology in patients with relapsed or refractory B-cell non-Hodgkin lymphomas. In connection with the CD20 CTA, Mustang agreed to fund up to $5.3 million of costs associated with the clinical trial, which commenced during the fourth quarter of 2017. In November 2020, the CD20 CTA was amended to include additional funding of approximately $0.8 million for the treatment of five patients with chronic lymphocytic leukemia. For the three months ended June 30, 2021 and 2020, Mustang recorded $0.3 million and $0.2 million, respectively, pursuant to the terms of this agreement. For the six months ended June 30, 2021 and 2020, Mustang recorded $1.0 million and $0.7 million, respectively, pursuant to the terms of this agreement. XSCID (MB-107) Data Transfer Agreement with St. Jude Children’s Research Hospital In June 2020, Mustang entered into a Data Transfer Agreement with St. Jude Children’s Research Hospital (“St. Jude”) under which Mustang will reimburse St. Jude for costs associated with St. Jude’s clinical trial for the treatment of infants with X-linked Severe Combined Immunodeficiency (“XSCID”). Pursuant to the terms of this agreement Mustang paid an upfront fee of $1.1 million on July 1, 2020, and will continue to reimburse St. Jude for costs incurred in connection with this trial. For the three months ended June 30, 2021 and 2020, Mustang recorded $0.2 million and $1.6 million, respectively, pursuant to the terms of this agreement. For the six months ended June 30, 2021 and 2020, Mustang recorded $0.3 million and $1.6 million, respectively, pursuant to the terms of this agreement. Mayo Foundation for Medical Education and Research In June 2021, Mustang entered into an SRA with the Mayo Clinic in which the Company will fund research in the amount of $2.1 million over a period of two years. The research covered under this arrangement is to process the development of the in-situ CAR-T technology. For the three and six months ended June 30, 2021, Mustang recorded $0.2 million in expense pursuant to the terms of this agreement. Oncogenuity For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Columbia $ 187 $ 125 $ 375 $ 125 Oxford 95 — 174 — McCormick Labs 66 — 122 — Total $ 348 $ 125 $ 671 $ 125 Columbia Sponsored Research Agreement Pursuant to the terms of a SRA entered into with the Trustees of Columbia University in the City of New York (“Columbia”) in May 2020, to develop novel oligonucleotides for the treatment of genetically driven cancers (the “Columbia SRA”), Oncogenuity will make semi-annual research payments to Columbia semiannually for five years ending in November 2024, such payments not to exceed $4.8 million. For the three months ended June 30, 2021, Oncogenuity recorded expense of $0.2 million and $0.1 million, respectively, for the three months ended June 30, 2021 and 2020 and $0.4 million and $0.1 million, respectively, for the six months ended June 30, 2021 and 2020. The Chancellor Masters and Scholars of the University of Oxford Sponsored Research Agreement In December 2020, Oncogenuity entered into a Sponsored Research Agreement with The Chancellor Masters and Scholars of the University of Oxford, (the “Oxford SRA”). For the three and six months ended June 30, 2021, Oncogenuity recorded expense of $0.1 million and $0.2 million, respectively, in research and development in the Company’s condensed consolidated statement of operations. No expense was recorded in 2020. The Regents of the University of California Sponsored Research Agreement In December 2020, Oncogenuity entered into a SRA with The Regents of the University of California, with Frank McCormick PhD, FRS as principal investigator (“McCormick SRA”). For the three and six months ended June 30, 2021 Oncogenuity recorded expense of $0.1 million and $0.1 million, respectively, in research and development in the Company’s condensed consolidated statement of operations. No expense was recorded in 2020.

Sponsored Research and Clinical Trial Agreements (Tables)	6 Months Ended
Sponsored Research and Clinical Trial Agreements (Tables)	Jun. 30, 2021
Aevitas [Member]
Schedule of Research and Development for Sponsored Research and Clinical Trial Agreements	In 2018, Aevitas entered into a Sponsored Research Agreement (“SRA”) with the Trustees of the University of Pennsylvania (“UPenn SRA”), as amended in July 2019, for certain continued research and development activities related to the development of adeno-associated virus (“AAV”) gene therapies in complement-mediated diseases. Also in 2018, Aevitas entered into an SRA with the University of Massachusetts (“UMass SRA”), as amended in January 2020, for certain continued research and development activities related to the development of AAV. For the three and six months ended June 30, 2021 and 2020, Aevitas recorded the following expense in connection with its sponsored research and clinical trial agreements: For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 UMass SRA $ 24 — $ 272 $ — UPenn SRA — — — 281 Total $ 24 $ — $ 272 $ 281
Mustang [Member]
Schedule of Research and Development for Sponsored Research and Clinical Trial Agreements	For the three and six months ended June 30, 2021 and 2020, Mustang recorded the following expense in research and development for sponsored research and clinical trial agreements: For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center $ — $ — $ — $ 500 IL13Rα2 (MB-101) 279 234 793 326 CD123 (MB-102) 21 65 226 296 CS1 (MB-104) 197 770 372 770 HER2 (MB-103) 31 — 154 — PSCA (MB-105) (4) — 46 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) 327 189 998 716 St. Jude Children's Research Hospital - XSCID (MB-107) 176 1,558 280 1,558 Mayo Clinic 233 — 233 — Total $ 1,260 $ 2,816 $ 3,102 $ 4,166
Oncogenuity [Member]
Schedule of Research and Development for Sponsored Research and Clinical Trial Agreements	Oncogenuity For the Three Months Ended June 30, For the Six Months Ended June 30, ($ in thousands) 2021 2020 2021 2020 Columbia $ 187 $ 125 $ 375 $ 125 Oxford 95 — 174 — McCormick Labs 66 — 122 — Total $ 348 $ 125 $ 671 $ 125

Fortress Biotech (FBIO) 10-Q16 Aug 212021 Q2 Quarterly reportFinancial data

Document and Entity Information

Condensed Consolidated Balance

Condensed Consolidated Balanc_2

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Organization and Description of

Summary of Significant Accounti

Collaboration and Stock Purchas

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Income taxes

Summary of Significant Accoun_2

Summary of Significant Accoun_3

Inventory (Tables)

Property and Equipment (Tables)

Fair Value Measurements (Tables

Licenses Acquired (Tables)

Sponsored Research and Clinic_2

Intangibles, net (Tables)

Debt and Interest (Tables)

Accounts Payable and Accrued _2

Non-Controlling Interests (Tabl

Net Loss per Common Share (Tabl

Stockholders' Equity (Tables)

Related Party Transactions (Tab

Segment Information (Tables)

Revenues from Contracts and S_2

Summary of Significant Accoun_4

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Collaboration and Stock Purch_2

Inventory (Narrative) (Details)

Inventory (Schedule of Inventor

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Sponsored Research and Clinic_3

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