Fortress Biotech (FBIO) 10-Q15 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Nov. 11, 2021
Document Information [Line Items]
Document Type	10-Q
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 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		99,629,396
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	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 252,721	$ 233,351
Accounts receivable, net	31,738	23,928
Inventory	11,614	1,404
Other receivables - related party	947	744
Prepaid expenses and other current assets	4,167	6,723
Total current assets	301,187	266,150
Property and equipment, net	13,975	11,923
Operating lease right-of-use asset, net	19,415	20,487
Restricted cash	1,645	1,645
Long-term investment, at fair value	56,860	17,566
Intangible asset, net	13,043	14,629
Other assets	1,708	1,013
Total assets	407,833	333,413
Current liabilities
Accounts payable and accrued expenses	82,855	45,389
Accounts payable - related party	74	0
Deferred revenue	3,354	0
Operating lease liabilities, short-term	2,047	1,849
Notes payable, short-term	10,450	0
Partner company installment payments - licenses, short-term (net of imputed interest of $567 and $778 as of September 30, 2021 and December 31, 2020, respectively)	4,433	4,522
Total current liabilities	103,213	51,760
Notes payable, long-term (net of debt discount of $7,431 and $8,323 as of September 30, 2021 and December 31, 2020, respectively)	42,569	51,677
Operating lease liabilities, long-term	21,522	22,891
Partner company installment payments - licenses, long-term (net of imputed interest of $461 and $863 as of September 30, 2021 and December 31, 2020, respectively)	3,539	8,137
Partner company convertible preferred shares, short-term (net of debt discount of $1,923 as of September 30, 2021 )	18,078	0
Partner company derivative warrant liabilities	4,365	0
Other long-term liabilities	2,079	1,949
Total liabilities	195,365	136,414
Commitments and contingencies (Note 16)
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 September 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, 98,714,222 shares issued and outstanding as of September 30, 2021; 150,000,000 shares authorized, 94,877,492 shares issued and outstanding as of December 31, 2020, respectively	99	95
Common stock issuable, 116,866 and 0 shares as of September 30, 2021 and December 31, 2020,respectively	365	0
Additional paid-in-capital	608,089	583,000
Accumulated deficit	(515,898)	(482,760)
Total stockholders' equity attributed to the Company	92,658	100,338
Non-controlling interests	119,810	96,661
Total stockholders' equity	212,468	196,999
Total liabilities and stockholders' equity	$ 407,833	$ 333,413

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Imputed interest related to partner company installment payments - licenses, Current	$ 567	$ 778
Notes payable, debt discount	7,431	8,323
Imputed interest related to partner company installment payments - licenses, Noncurrent	$ 461	$ 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	98,714,222	94,877,492
Common Stock, shares outstanding	98,714,222	94,877,492
Common Stock, Shares Subscribed but Unissued	116,866	0
Convertible preferred shares
Notes payable, debt discount	$ 1,923

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Product revenue, net	$ 19,610	$ 9,447	$ 45,617	$ 30,808
Collaboration revenue	1,446	0	4,646	0
Revenue - related party	29	28	252	1,042
Net revenue	21,085	9,475	50,515	31,850
Operating expenses
Cost of goods sold - product revenue	11,167	3,379	22,559	10,313
Research and development	27,367	13,298	70,226	43,868
Research and development - licenses acquired	713	458	15,585	2,278
Selling, general and administrative	22,221	15,383	59,145	45,358
Wire transfer fraud loss	9,540	0	9,540	0
Total operating expenses	71,008	32,518	177,055	101,817
Loss from operations	(49,923)	(23,043)	(126,540)	(69,967)
Other income (expense)
Interest income	132	265	505	1,228
Interest expense and financing fee	(4,444)	(6,958)	(9,393)	(13,142)
Change in fair value of investments	8,376	575	39,294	575
Change in fair value of derivative liability	(2)	(803)	(184)	(1,189)
Total other income (expense)	4,062	(6,921)	30,222	(12,528)
Net loss	(45,861)	(29,964)	(96,318)	(82,495)
Net loss attributable to non-controlling interests	25,080	14,417	63,180	41,264
Net loss attributable to common stockholders	$ (20,781)	$ (15,547)	$ (33,138)	$ (41,231)
Net loss per common share - basic and diluted	$ (0.56)	$ (0.39)	$ (1.19)	$ (1.19)
Net loss per common share attributable to non - controlling interests - basic and diluted	(0.31)	(0.19)	(0.78)	(0.59)
Net loss per common share attributable to common stockholders - basic and diluted	$ (0.26)	$ (0.20)	$ (0.41)	$ (0.59)
Weighted average common shares outstanding - basic and diluted	81,348,243	76,093,211	81,056,165	69,404,499

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Common 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					10,319			10,319
Issuance of common stock related to equity plans		$ 2			(2)
Issuance of common stock related to equity plans (in shares)		2,307,231
Issuance of common stock under ESPP					90			90
Issuance of common stock under ESPP (in shares)		53,268
Preferred A dividends declared and paid					(4,507)			(4,507)
Partner company's at-the-market offering, net					33,500			33,500
Issuance of common stock for at-the-market offering, net		$ 17			43,183			43,200
Issuance of common stock for at-the-market offering, net (in shares)		16,378,234
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				35,466			35,468
Issuance of Series A preferred stock for cash, net (in shares)	2,090,971
Partner company's offering, net					53,698			53,698
Partner company's preferred stock offering, net					7,088			7,088
Partner company's dividends declared and paid					(50)			(50)
Partner company's exercise of warrants for cash					13			13
Reclass partner company's warrants from liability to equity					1,216			1,216
Partner company's ESPP					349			349
Issuance of partner company's common shares for research and development expenses					42			42
Common shares issued for 2017 Subordinated Note Financing interest expense		$ 1	(500)		1,816			1,317
Common shares issued for 2017 Subordinated Note Financing interest expense (in shares)		982,216
Common shares issuable for 2017 Subordinated Note Financing interest expense			18					18
Common shares issued for dividend on partner company's convertible preferred shares								0
Common shares issuable for 2019 Notes interest expense					4,419			4,419
Non-controlling interest in subsidiaries/partner companies					(73,981)		73,981
Net loss attributable to non-controlling interest							(41,264)	(41,264)
Net loss attributable to common stockholders						(41,231)		(41,231)
Balance at Sep. 30, 2020	$ 3	$ 94	18		574,461	(477,465)	79,034	176,145
Balance (in shares) at Sep. 30, 2020	3,427,138	93,748,374
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
Stock-based compensation expense					3,171			3,171
Issuance of common stock related to equity plans (in shares)		268,800
Preferred A dividends declared and paid					(1,719)			(1,719)
Partner company's at-the-market offering, net					23,053			23,053
Issuance of common stock for at-the-market offering, net		$ 7			21,110			21,117
Issuance of common stock for at-the-market offering, net (in shares)		7,064,214
Issuance of Series A preferred stock for cash, net					11,965			11,965
Issuance of Series A preferred stock for cash, net (in shares)	733,332
Partner company's offering, net					18,774			18,774
Issuance of common stock under partner company's ESPP					180			180
Partner company's preferred stock offering, net					7,088			7,088
Partner company's dividends declared and paid					(50)			(50)
Reclass partner company's warrants from liability to equity					1,216			1,216
Issuance of partner company's common shares for research and development expenses					21			21
Common shares issued for 2017 Subordinated Note Financing interest expense		$ 1	(500)		810			311
Common shares issued for 2017 Subordinated Note Financing interest expense (in shares)		302,029
Write off common shares issuable for 2019 Notes interest expense			(313)					(313)
Common shares issuable for service			18					18
Issuance of warrants in conjunction with Oaktree Note					4,419			4,419
Non-controlling interest in subsidiaries/partner companies					(37,070)		37,070
Net loss attributable to non-controlling interest							(14,417)	(14,417)
Net loss attributable to common stockholders						(15,547)		(15,547)
Balance at Sep. 30, 2020	$ 3	$ 94	18		574,461	(477,465)	79,034	176,145
Balance (in shares) at Sep. 30, 2020	3,427,138	93,748,374
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					12,449			12,449
Issuance of common stock related to equity plans		$ 3			(3)
Issuance of common stock related to equity plans (in shares)		2,912,652
Issuance of common stock under ESPP					137			137
Issuance of common stock under ESPP (in shares)		59,107
Preferred A dividends declared and paid					(6,023)			(6,023)
Partner company's at-the-market offering, net					101,958			101,958
Partner company's exercise of options for cash					7			7
Issuance of common stock for at-the-market offering, net		$ 1			2,747			2,748
Issuance of common stock for at-the-market offering, net (in shares)		786,300
Issuance of common stock under partner company's ESPP					309			309
Partner company's dividends declared and paid					(562)			(562)
Issuance of partner company's common shares for research and development expenses					136			136
Common shares issued for dividend on partner company's convertible preferred shares					263			263
Common shares issued for dividend on partner company's convertible preferred shares (in shares)		78,671
Common shares issuable for dividend on partner company's convertible preferred shares			365					365
Non-controlling interest in subsidiaries/partner companies					(86,329)		86,329
Net loss attributable to non-controlling interest							(63,180)	(63,180)
Net loss attributable to common stockholders						(33,138)		(33,138)
Balance at Sep. 30, 2021	$ 3	$ 99	365		608,089	(515,898)	119,810	212,468
Balance (in shares) at Sep. 30, 2021	3,427,138	98,714,222
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
Stock-based compensation expense					4,326			4,326
Issuance of common stock related to equity plans		$ 1			(1)
Issuance of common stock related to equity plans (in shares)		354,007
Preferred A dividends declared and paid					(2,008)			(2,008)
Partner company's at-the-market offering, net					4,626			4,626
Issuance of common stock for at-the-market offering, net		$ 1			2,747			2,748
Issuance of common stock for at-the-market offering, net (in shares)		786,300
Issuance of common stock under partner company's ESPP					151			151
Partner company's dividends declared and paid					(187)			(187)
Issuance of partner companies' common shares for research and development expenses					7			7
Common shares issued for dividend on partner company's convertible preferred shares			(263)		263
Common shares issued for dividend on partner company's convertible preferred shares (in shares)		78,671
Common shares issuable for dividend on partner company's convertible preferred shares			365					365
Non-controlling interest in subsidiaries/partner companies					(4,870)		4,870
Net loss attributable to non-controlling interest							(25,080)	(25,080)
Net loss attributable to common stockholders						(20,781)		(20,781)
Balance at Sep. 30, 2021	$ 3	$ 99	$ 365		$ 608,089	$ (515,898)	$ 119,810	$ 212,468
Balance (in shares) at Sep. 30, 2021	3,427,138	98,714,222

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Net loss	$ (96,318)	$ (82,495)
Reconciliation of net loss to net cash used in operating activities:
Depreciation expense	1,868	1,676
Bad debt (reserve) expense	(67)	47
Amortization of debt discount	1,623	5,319
Accretion of partner company convertible preferred shares	1,034	0
Non-cash interest	616	492
Amortization of product revenue license fee	1,983	1,065
Amortization of operating lease right-of-use assets	1,259	1,214
Stock-based compensation expense	12,449	10,319
Issuance of partner company's common shares for research and development expenses	136	42
Common shares issued for dividend on partner company's convertible preferred shares	263	0
Common shares issuable for dividend on partner company's convertible preferred shares	365	0
Common shares issued for 2017 Subordinated Note Financing interest expense	0	1,317
Common shares issuable for service	0	18
Change in fair value of investment	(39,294)	(575)
Change in fair value of derivative liability	184	1,189
Research and development-licenses acquired, expense	15,449	2,236
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:
Accounts receivable	(7,743)	(2,161)
Inventory	(10,210)	(195)
Other receivables - related party	(203)	(74)
Prepaid expenses and other current assets	2,854	2,429
Other assets	(695)	(198)
Accounts payable and accrued expenses	33,953	(2,686)
Accounts payable and accrued expenses - related party	74	19
Interest payable	0	(1,019)
Interest payable - related party	0	(92)
Deferred revenue	3,354	0
Partner company contract liability	0	0
Lease liabilities	(1,358)	(943)
Other long-term liabilities	130	(140)
Net cash used in operating activities	(77,844)	(63,196)
Cash Flows from Investing Activities:
Purchase of research and development licenses	(9,830)	(3,369)
Purchase of property and equipment	(2,609)	(1,228)
Purchase of intangible asset	(400)	(1,000)
Net cash used in investing activities	(12,839)	(5,597)
Cash Flows from Financing Activities:
Payment of Series A perpetual preferred stock dividends	(6,023)	(4,507)
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	39,075
Payment of costs related to issuance of Series A perpetual preferred stock	0	(3,407)
Proceeds from issuance of common stock for at-the-market offering	2,833	44,796
Payment of costs related to issuance of common stock for at-the-market offering	(85)	(1,506)
Proceeds from issuance of common stock under ESPP	137	90
Proceeds from partner companies' ESPP	309	349
Partner company's dividends declared and paid	(562)	(50)
Proceeds from partner companies' sale of stock	0	57,729
Payment of costs related to partner companies' sale of stock	0	(3,642)
Proceeds from partner companies' at-the-market offering	104,097	34,254
Payment of costs related to partner companies' at-the-market offering	(2,223)	(754)
Proceeds from partner company's preferred stock offering	0	8,000
Payment of costs related to partner company's preferred stock offering	(13)	(912)
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	(5,300)	0
Proceeds from partner company convertible preferred shares	18,967	0
Payment of debt issuance costs associated with partner company convertible preferred shares	(1,996)	0
Net cash provided by financing activities	110,053	135,395
Net increase in cash and cash equivalents and restricted cash	19,370	66,602
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	254,366	220,034
Supplemental disclosure of cash flow information:
Cash paid for interest	5,025	6,669
Cash paid for interest - related party	0	463
Cash paid for tax	661	0
Supplemental disclosure of non-cash financing and investing activities:
Settlement of restricted stock units into common stock	3	2
Issuance of warrants in conjunction with Oaktree Note	0	4,419
Common shares issued from 2017 Subordinated Note Financing interest expense	0	500
Unpaid fixed assets	1,376	317
Partner company's unpaid intangible assets	0	3,727
Reclass partner company's warrants from liability to equity	0	1,216
Unpaid debt offering cost	0	57
Unpaid partner company's debt offering cost	214	0
Unpaid partner company's deferred offering cost	264	0
Partner company derivative warrant liability associated with partner company convertible preferred shares	362	0
Unpaid at-the-market offering cost	0	96
Unpaid partner company's offering cost	0	457
Unpaid Series A perpetual preferred stock offering cost	0	203
Retirement of Series A perpetual preferred stock	0	70
Unpaid research and development licenses acquired	1,800	117
Lease liabilities arising from obtaining right-of-use assets	187	0
2017 Subordinated Note Financing [Member]
Cash Flows from Financing Activities:
Payment of debt issuance costs	0	(93)
Repayments of debt	0	(28,356)
Oaktree Note [Member]
Reconciliation of net loss to net cash used in operating activities:
Amortization of debt discount	4,400
Prepayment penalty	450	0
Cash Flows from Financing Activities:
Proceeds from issuance of notes	0	60,000
Payment of debt issuance costs	(95)	(4,239)
2018 Venture Notes [Member]
Cash Flows from Financing Activities:
Payment of debt issuance costs	0	(58)
Repayments of debt	0	(21,707)
Opus Credit Facility (2019 Notes) [Member]
Cash Flows from Financing Activities:
Repayments of debt	0	(9,000)
Mustang Horizon Notes [Member]
Cash Flows from Financing Activities:
Repayments of debt	0	(15,750)
IDB Note Payable [Member]
Cash Flows from Financing Activities:
Repayments of debt	$ 0	$ (14,858)

Organization and Description of

Organization and Description of Business	9 Months Ended
Organization and Description of Business	Sep. 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 at entities the Company founded and in which it maintains significant minority ownership positions. Fortress has a talented and experienced business development team, comprising 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 its partner companies achieve their goals. The partner companies then assess a broad range of potential 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. (“Alexion”), InvaGen Pharmaceuticals, Inc. (“InvaGen”) (a subsidiary of Cipla Limited) and Sentynl Therapeutics, Inc. (“Sentynl”). On October 6, 2021, AstraZeneca plc (acquiror of Alexion) purchased 100% of our partner company Caelum Biosciences, Inc. (“Caelum”) for approximately $150 million upfront and up to $350 million in contingent regulatory and sales milestone payments. 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, Cellvation, Inc. (“Cellvation”), Checkpoint Therapeutics, Inc. (“Checkpoint”), Cyprium Therapeutics, Inc. (“Cyprium”), FBIO Acquisition Corp. VIII, Helocyte, Inc. (“Helocyte”), Journey, 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 companies, grants or other arrangements to 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 plans, 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 experienced minimal impact on its development timelines, revenue levels and its liquidity due to the worldwide spread of COVID-19.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 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 interim unaudited 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 interim unaudited 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 unaudited 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 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, Avenue’s Form 10-K, filed with the SEC on March 31, 2021, and the public filing of the Journey Medical Corporation Form S-1 on October 22, 2021, as amended on November 8, 2021 and November 10, 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’s capital stock 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 September 30, 2021 and December 31, 2020, the Company had $1.6 million of restricted cash representing 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 unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows at September 30, 2021, and 2020: September 30, 2021 2020 Cash and cash equivalents $ 252,721 $ 218,389 Restricted cash 1,645 1,645 Total cash and cash equivalents and restricted cash $ 254,366 $ 220,034 Revenue Recognition The Company records revenue (“ASC”) Topic Revenue from Contracts with Customers (“ASC revenue revenue for revenues have Company’s when Many of the Company’s rebates, Revenues for rebates, programs, allowances. for interim receivable, for revenue rely heavily Company’s provisions for Trade Discounts and Other Sales Allowances Product Returns — The Company currently estimates product returns to be approximately 3% of gross sales to the wholesalers. The 3% return rate is estimated by using both historical and industry data. The Company monitors product returns on a quarterly basis, and will adjust the estimated return percentage if needed. The Company does not estimate returns for sales made to specialty pharmacies as their historical ordering pattern is approximately every two weeks and, as such, inventory turns every two weeks. Government Chargebacks — Chargebacks for fees and discounts to indirect qualified government healthcare providers represent the estimated obligations resulting from contractual commitments to sell products to qualified U.S. Department of Veterans Affairs hospitals and 340B entities at prices lower than the list prices charged to customers who purchase product directly from the Company. Customers charge the Company for the difference between what they pay for the product and the statutory selling price to the qualified government entity. These allowances are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue and accounts receivable, net. The chargeback amount from our direct customers is generally determined at the time of our direct customers’ resale to the qualified government healthcare provider, and the Company generally issues credits for such amounts within a few weeks of our direct customer’s notification to the Company of the resale. The allowance for chargebacks is based on expected sellthrough levels by our direct customers to indirect customers, as well as estimated wholesaler inventory levels. Government Rebates — Coupons — . Managed Care Rebates 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 unaudited 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. The acquired Qbrezxa finished goods inventory includes a fair value step-up of $6.5 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. 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 ASC 815-40-35 Derivatives and Hedging Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Recently Issued Accounting Pronouncements In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) In August 2020, the FASB issued 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 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 unaudited condensed consolidated financial statements.

Collaboration and Stock Purchas

Collaboration and Stock Purchase Agreements	9 Months Ended
Collaboration and Stock Purchase Agreements	Sep. 30, 2021
Collaboration and Stock Purchase Agreements
Collaboration and Stock Purchase Agreements	3. Collaboration and Stock Purchase Agreements Caelum Agreement with AstraZeneca’s Alexion In January 2019, Caelum entered into a Development, Option and Stock Purchase Agreement (as amended, the “DOSPA”) and related documents by and among Caelum, AstraZeneca (as successor-in-interest to Alexion, “AstraZeneca”), the Company and Caelum’s other equity holders as parties thereto (such equity holders, including Fortress, the “Sellers”). Under the terms of the agreement, AstraZeneca obtained a minority interest in Caelum and a contingent exclusive option to acquire the remaining equity in Caelum. On September 28, 2021 AstraZeneca notified Caelum of its intention to exercise its purchase option, and on October 6, 2021 AstraZeneca acquired Caelum for an upfront payment of approximately $150 million (see Note 21). The Sellers currently remain eligible to receive up to an additional $350 million in contingent regulatory and commercial milestone payments. Cyprium Agreement with 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”). Cyprium also remains eligible to receive up to an additional $12.0 million payable as follows: (i) $3.0 million upon acceptance by the FDA of the NDA for review; 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 September 30, 2021, none of these future milestones was deemed probable. Following the transfer of CUTX-101 to Sentynl (if any), Cyprium would remain eligible to receive up to $255.0 million in additional sales milestone payments (payable pursuant to five milestones), as well as royalties on CUTX-101 net sales ranging from mid-single digits up to the mid-twenties. Cyprium would 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 ASC 808-10-15-5A Revenue from Collaborative Arrangements In connection with the $8.0 million upfront payment to Sentynl, the Company is recognizing 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, revenue is being recognized over the period in which the development activities are expected to occur. For the three and nine months ended September 30, 2021, the Company recognized revenue of $1.4 million and $4.6 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 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 was conditioned upon, among other things, 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 (but would instead retain an option to complete the Merger Transaction up until such time as the Avenue SPMA was terminated). Pursuant to the Avenue SPMA, the Company could choose to terminate the Avenue SPMA after October 31, 2021, if FDA approval of IV Tramadol had not occurred by such time. On November 1, 2021, the Company terminated the Avenue SPMA. Even though the Avenue SPMA has been terminated, InvaGen retains certain rights pursuant to the Stockholders Agreement entered into on November 12, 2018 between the Company, Avenue and InvaGen, and other agreements entered into in connection therewith on such date. 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. Over the past year, 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. Even though the Avenue SPMA has been terminated, it is still possible for InvaGen to pursue monetary claims against the Company and/or Avenue based on the foregoing or other potential causes of action. 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 September 30, 2021, Avenue had an accumulated deficit of $76.1 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 Office of Neuroscience of the FDA on July 27, 2021. On August 26, 2021, Avenue received an Appeal Denied Letter from the Office of Neuroscience of the FDA in response to the FDRR submitted on July 27, 2021. On August 31, 2021, Avenue submitted a FDRR with the Office of New Drugs (“OND”) of the FDA. On October 21, 2021, Avenue received a written response from the OND of the FDA stating that the OND needs additional input from an Advisory Committee in order to reach a decision on the FDRR. 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, the outcome of the aforementioned Advisory Committee meeting, whether or not the FDA ultimately approves IV Tramadol, and potentially on whether or not Avenue procures additional capital. As of September 30, 2021, Avenue had cash and cash equivalents of $0.6 million. Avenue believes that its cash and cash equivalents are only sufficient to fund its operating expenses into the fourth quarter of 2021. Avenue will need to secure additional funds through equity or debt offerings, or other potential sources. Furthermore, under the Shareholders’s Agreement between Avenue and InveGen, any equity funding must be approved by InvaGen. Avenue cannot be certain that additional funding will be available to it 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. The Company also notes that the process of exploring refinancing or restructuring alternatives, including those under Chapter 11, may be disruptive to business and operations. On September 2, 2021, Avenue received a delinquency notification letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that Avenue is not in compliance with Nasdaq rules requiring listed securities to maintain a minimum Market Value of Listed Securities (“MVLS”) of $35 million (the “MVLS Requirement”). Avenue has 180 calendars days, expiring March 1, 2022, to regain compliance with the MVLS Requirement. If Avenue maintains a MVLS at or greater than $35 million or more for a minimum of ten consecutive business days, Avenue will regain compliance. If Avenue does not regain compliance within 180 calendar days, Avenue will receive a written notification from Nasdaq that its securities are subject to delisting. Avenue intends to monitor its MVLS and may, if appropriate, consider implementing available options to regain compliance with the MVLS Requirement. There can be no assurance that Avenue will be able to regain compliance with the MVLS Requirement, or maintain compliance if Avenue regains compliance.

Inventory

Inventory	9 Months Ended
Inventory	Sep. 30, 2021
Inventory
Inventory	4. Inventory Inventory consisted of the following: September 30, December 31, ($ in thousands) 2021 2020 Raw materials $ 5,453 $ — Work-in-process — — Finished goods 6,161 1,404 Total inventories $ 11,614 $ 1,404 The acquired Qbrezxa finished goods inventory includes a fair value step-up of $6.5 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 Journey’s acquisition of Qbrexza, please refer to Note 9.

Property and Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Sep. 30, 2021
Property and Equipment
Property and Equipment	5. Property and Equipment Fortress’ property and equipment consisted of the following: Useful Life September 30, December 31, ($ in thousands) (Years) 2021 2020 Computer equipment 3 $ 739 $ 663 Furniture and fixtures 5 1,387 1,199 Machinery & equipment 5 6,330 5,748 Leasehold improvements 2-15 13,134 10,580 Construction in progress 1 N/A 1,019 499 Total property and equipment 22,609 18,689 Less: Accumulated depreciation (8,634) (6,766) Property and equipment, net $ 13,975 $ 11,923 Note 1: Relates to the Mustang cell processing facility. Fortress' depreciation expense for the three months ended September 30, 2021 and 2020 was approximately $0.7 million and $0.6 million, respectively. Fortress' depreciation expense for the nine months ended September 30, 2021 and 2020 was approximately $1.9 million and $1.7 million, respectively. Depreciation expense is recorded in both research and development expense and general and administrative expense in the unaudited condensed consolidated statement of operations

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2021
Fair Value Measurements
Fair Value Measurements	6. Fair Value Measurements The Company follows accounting guidance on fair value measurements for financial assets and liabilities measured at fair value on a recurring basis. Under the accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance requires fair value measurements be classified and disclosed in one of the following three categories: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability. 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 September 30, 2021, based on notification from AstraZeneca of their intent to exercise their exclusive option to purchase Caelum for the option price of $150 million (see Note 3), the Company wrote up the carrying value of its investment in Caelum to the 42.4% share of the net proceeds it expects to receive upon distribution of the option exercise price. Accordingly, the fair value of the Company’s investment in Caelum at September 30, 2021 was deemed to be $56.9 million. This amount reflects deduction of the 10% escrow holdback, to be distributed in 24 months, as well as deductions for legal expenses and fees, approximating $1.1 million. As of December 31, 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 In connection with Journey’s Preferred Stock offering (see Note 11), upon a Qualified Financing (defined as an external financing of $25.0 million or greater), Journey will issue warrants to the placement agent (the “Placement Agent Warrants”) to purchase 5% of the shares of common stock into which the Preferred Stock converts. The Placement Agent Warrants have a term of five years and are exercisable at a 15% discount to the Qualified Financing price. The Company valued the Placement Agent Warrants 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 September 30, 2021 was as follows: September 30, 2021 Risk-free interest rate 0.98 % Expected dividend yield — Expected term in years 1.0 Expected volatility 50 % At September 30, 2021, the value of the placement agent warrants was deemed to be $0.5 million. Contingent Payment Derivative In connection with the license, collaboration, and assignment agreement (the “DFD Agreement”) (see Note 7), between Journey and Dr. Reddy’s Laboratories, LTD (“DRL”) for a modified release oral minocycline for the treatment of rosacea (DFD-29”), Journey agreed to pay DRL additional consideration upon either an initial public offering of Journey ’s common stock (“Journey IPO”) or an acquisition of Journey , with the agreement specifying that only one payment can be made. The contingent payment associated with a Journey IPO, is deemed to be achieved if, upon the completion of a Journey IPO, Journey’s market capitalization on a fully diluted basis is $150 million or greater at the close of business on the date of the Journey IPO. The payment due for the achievement of the Journey IPO criteria is as follows: In the event the Journey IPO contingency is not satisfied, and Journey or its affiliate executes a definitive agreement for an acquisition event during the period beginning on June 29, 2021 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. The Company 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 September 30, 2021 was as follows: September 30, 2021 Discount rate 30 % Expected dividend yield — Expected term 3 months to 5 years Probability of outcomes 3% to 70 % At September 30, 2021 the value of the contingent payment warrant is $3.8 million, and was recorded on the unaudited condensed consolidated balance sheet. No liability was recorded at December 31, 2020. The following tables classify into the fair value hierarchy of Fortress’ financial instruments, measured at fair value as of September 30, 2021 and December 31, 2020: Fair Value Measurement as of September 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Fair value of investment in Caelum $ — $ — $ 56,860 $ 56,860 Total $ — $ — $ 56,860 $ 56,860 Fair Value Measurement as of September 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Liabilities Journey derivative warrant liabilities $ — $ — $ 4,365 $ 4,365 Total $ — $ — $ 4,365 $ 4,365 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 tables below provide a roll-forward of the changes in fair value of Level 3 financial instruments as of September 30, 2021: Investment in ($ in thousands) Caelum Balance at December 31, 2020 $ 17,566 Change in fair value of investments 39,294 Balance at September 30, 2021 $ 56,860 Warrants ($ in thousands) liabilities Balance at December 31, 2020 $ — Additions: Journey contingent payment warrant 3,820 Journey placement agent warrant 545 Balance at September 30, 2021 $ 4,365 During the nine month period ended September 30, 2021, no transfers occurred between Level 1, Level 2, and Level 3 instruments.

Licenses Acquired

Licenses Acquired	9 Months Ended
Licenses Acquired	Sep. 30, 2021
Licenses Acquired
Licenses Acquired	7. Licenses Acquired In accordance with ASC 730-10-25-1, Research and Development Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 Partner companies: JMC $ 76 $ — $ 13,819 $ — Mustang 630 287 1,630 1,837 Aevitas 7 162 34 162 Baergic — 8 — 8 Oncogenuity — 1 1 271 FBIO Acquisition Corp VIII — — 101 — Total $ 713 $ 458 $ 15,585 $ 2,278 Journey On June 29, 2021, Journey entered into the DFD Agreement to obtain the global rights for pay also payable. Royalties approximately approximately payable Additionally, Journey is required to fund and oversee the Phase III clinical trials at a cost approximating $24.0 million, based upon the current development plan and budget. 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. The fair value of the contingent payment as of September 30, 2021 was deemed to be $3.8 million, and was recorded in research and development, licenses acquired expense for the nine months ended September 30, 2021. Mustang For the Three Months Ended September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center CD123 (MB-102) $ — $ — $ 250 $ 334 IL13Rα2 (MB-101) — — — 333 HER2 (MB-103) — — — 250 PSCA (MB-105) 250 — 250 — Spacer — — — 333 Mayo Clinic — — 750 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) — — — 300 Leiden University Medical Centre 350 — 350 — CSL Behring (Calimmune) 30 170 30 170 SIRION Biotech LentiBOOST TM — 117 — 117 Total $ 630 $ 287 $ 1,630 $ 1,837 City of Hope National Medical Center CD123 License (MB-102) In February 2017, Mustang entered into an Amended and Restated Exclusive License Agreement with the City of Hope National Medical Center (“COH”) to acquire intellectual property rights pertaining to CD123-specific chimeric antigen receptor (“CAR”) engineered T cell (“CAR T”) technology. Pursuant to this agreement, payments are due for the achievement of eight development milestones totaling $14.5 million; additional payments are due upon the occurrence of certain one-time events, and royalty payments as a percentage of revenue in the mid-single digits are due on net sales of licensed products. For the nine months ended September 30, 2021, Mustang expensed a non-refundable milestone payment of $0.3 million for the 24th patient treated in the Phase 1 clinical study for MB-102 at COH. For the nine months ended September 30, 2020, Mustang expensed a non-refundable payment of $0.3 million in connection with Mustang’s public underwritten offerings. IL13Rα2 License (MB-101) In February 2017, Mustang entered into an Amended and Restated Exclusive License Agreement with COH to acquire intellectual property rights pertaining to IL13Rα2-specific CAR T technology. Pursuant to this agreement, payments are due for the achievement of eight development milestones totaling $14.5 million; additional payments are due upon the occurrence of certain one-time events, and royalty payments as a percentage of revenue in the mid-single digits are due on net sales of licensed products. For the nine months ended, September 30, 2020, Mustang expensed a non-refundable payment of $0.3 million in connection with Mustang’s public underwritten offerings. Spacer License In February 2017, Mustang entered into an Amended and Restated Exclusive License Agreement with COH to acquire intellectual property rights pertaining to Spacer patent rights. Pursuant to this agreement, payments are due upon the occurrence of certain one-time events, and royalty payments as a percentage of revenue in the low single digits are due on net sales of licensed products. For the nine months ended, September 30, 2020, Mustang expensed a non-refundable payment of $0.3 million in connection with Mustang’s public underwritten offerings. PSCA License (MB-105) In May 2017, Mustang entered into an exclusive license agreement with COH for the use of prostate stem cell antigen (“PSCA”) CAR T technology to be used in the treatment of prostate cancer, pancreatic cancer and other solid tumors. Pursuant to this agreement, Mustang paid an upfront fee of $0.3 million and pays an annual maintenance fee of $50,000. Additional payments are due for the achievement of ten development milestones totaling $14.9 million, and royalty payments in the mid-single digits are due on net sales of licensed products. For the three and nine months ended, September 30, 2021, Mustang expensed a non-refundable milestone payment of $0.3 million for the twelfth patient treated in the Phase 1 clinical study of MB-105 at COH. HER2 License (MB-103) On May 31, 2017, Mustang entered into an exclusive license agreement with COH for the use of human epidermal growth factor receptor 2 (“HER2”) CAR T technology, which will initially be applied in the treatment of glioblastoma multiforme and brain metastases from HER2+ malignancies. Pursuant to this agreement, Mustang paid an upfront fee of $0.6 million and pays an annual maintenance fee of $50,000 (which began in 2019). Additional payments are due for the achievement of ten development milestones totaling $14.9 million, and royalty payments as a percentage of revenue in the mid-single digits are due on net sales of licensed products. For the nine months ended, September 30, 2020, Mustang expensed a non-refundable milestone payment of $0.3 million for the twelfth patient treated in the Phase 1 clinical study of MB-103 at COH. CSL Behring (Calimmune) License On August 23, 2019, Mustang entered into a non-exclusive license agreement with CSL Behring (Calimmune, Inc.) (“Calimmune License”) for the rights to the Cytegrity TM stable producer cell line for the production of viral vector for our lentiviral gene therapy program for the treatment of XSCID (MB-107 and MB-207). Mustang previously licensed the XSCID gene therapy program from St. Jude Children’s Research Hospital, Inc. (“St. Jude”) in August 2018. Pursuant to the terms of the Calimmune License, Mustang paid an upfront fee of $0.2 million. CSL Behring is eligible to receive additional payments totaling $1.2 million upon the achievement of three development and commercialization milestones. Royalty payments as a percentage of revenue in the low-single digits are due on net sales of licensed products. For the three and nine months ended September 30, 2021 and 2020, Mustang expensed non-refundable milestone payments of $30,000 and $0.2 million, respectively, in connection with the Calimmune License. Leiden University Medical Centre License On September 8, 2021, Mustang entered into an exclusive, worldwide licensing agreement with Leiden University Medical Centre (“Leiden”) for the use of a gene therapy under development for the treatment of severe immunodeficiency caused by RAG1 deficiency (the “Leiden License”). Pursuant to the Leiden License, Mustang expensed an upfront fee of $0.4 million. Additional payments are due for the achievement of certain development milestones totaling up to $31 million and royalty payments in the low to mid-single digits are due on net sales of licensed products. For the three and nine months ended September 30, 2021, Mustang expensed an upfront payment of $0.4 million in connection with the Leiden License. Fred Hutchinson Cancer Research Center - CD20 License (MB-106) On July 3, 2017, Mustang entered into an exclusive, worldwide licensing agreement with Fred Hutchinson Cancer Research Center (“Fred Hutch”) for the use of a CAR T therapy related to autologous T cells engineered to express a CD20-specific chimeric antigen receptor (“CD20 Technology License”). Pursuant to the CD20 Technology License, Mustang paid Fred Hutch an upfront fee of $0.3 million and will owe an annual maintenance fee of $50,000 on each anniversary of the license until the achievement by Mustang of regulatory approval of a licensed product using CD20 Technology. Additional payments are due for the achievement of eleven development milestones totaling $39.1 million, and royalty payments in the mid-single digits are due on net sales of licensed products. For the nine months ended, September 30, 2020, Mustang expensed a non-refundable milestone payment of $0.3 million in connection with the Phase 1 clinical study of MB-106 at Fred Hutch. Mayo Clinic – CAR T Technology License On April 1, 2021, Mustang entered into an exclusive license agreement with the Mayo Foundation for Medical Education and Research (the “Mayo Clinic”) for a novel technology that may be able to transform the administration of CAR T therapies and has the potential to be used as an off-the-shelf therapy. 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 products. For the nine months ended September 30, 2021, Mustang expensed an upfront payment of $0.8 million pursuant to the terms of the license agreement. SIRION Biotech GmbH - LentiBOOST TM In October 2020, Mustang entered into a licensing agreement with SIRION Biotech (“SIRION”) for the rights to SIRION’s LentiBOOST TM technology for the development of MB-207, a lentiviral gene therapy for the treatment of previously transplanted XSCID patients (the “SIRION Technology License”). Pursuant to the SIRION Technology License, Mustang paid SIRION a one-time upfront fee of $0.1 million ( €0.1 million). In addition, five future development milestone payments totaling up to approximately $5.6 million ( €4.7 million) in the aggregate are due upon achievement of certain milestones. Additional milestone payments totaling up to $4.1 million ( €3.5 million) in the aggregate are due in connection with the achievement of three commercial milestones and low- to mid-single digit royalties as a percentage of revenue are due on aggregate cumulative worldwide net sales of licensed products . For the three and nine months ended September 30, 2020, Mustang expensed an upfront payment of $0.1 million pursuant to the terms of the SIRION Technology License.

Intangibles, net

Intangibles, net	9 Months Ended
Intangibles, net	Sep. 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 (“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. Journey also has the obligation to accept all product returns related to sales made by Dermira, which is estimated to be approximately $1.4 million. The Company allocated the upfront payment to inventory, since the fair value of the inventory and Qbrexza rights exceed the purchase price. The future contingent milestone payments, if achieved, will be recorded to intangible asset and amortized over the seven year life of the asset commencing on the closing date. The table below provides a summary of the Journey intangible assets as of September 30, 2021 and December 31, 2020, respectively: Estimated Useful ($ in thousands) Lives (Years) September 30, 2021 December 31, 2020 (Unaudited) Total intangible assets – asset purchases 3 to 7 $ 19,003 $ 18,606 Accumulated amortization (5,960) (3,977) Net intangible assets $ 13,043 $ 14,629 The table below provides a summary for the nine months ended September 30, 2021, of Journey’s recognized expense related to its product licenses, which was recorded in costs of goods sold on the unaudited condensed consolidated statement of operations: Intangible ($ in thousands) Assets, Net Beginning balance at January 1, 2021 $ 14,629 Additions: Exelderm milestone 397 Amortization expense (1,983) Ending balance at September 30, 2021 $ 13,043 The future amortization of these intangible assets is as follows: Total ($ in thousands) Ximino® Accutane® Amortization Three months ending December 31, 2021 $ 255 $ 236 $ 491 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 $ 4,926 $ 4,175 $ 9,101 Assets not yet placed in service: Anti-itch product license acquisition — — 3,942 Total $ 4,926 $ 4,175 $ 13,043

Debt and Interest

Debt and Interest	9 Months Ended
Debt and Interest	Sep. 30, 2021
Debt and Interest
Debt and Interest	10. Debt and Interest Debt Total debt consists of the following as of September 30, 2021 and December 31, 2020: September 30, December 31, ($ in thousands) 2021 2020 Interest rate Maturity (Unaudited) Total notes payable - Oaktree Note $ 60,450 $ 60,000 11.00 % August - 2025 Less: Discount on notes payable (7,431) (8,323) Total notes payable $ 53,019 $ 51,677 Oaktree Note On August 27, 2020 (the “Closing Date”), Fortress, as borrower, entered into a $60.0 million senior secured credit agreement with Oaktree (the “Oaktree Agreement” and the debt thereunder, the “Oaktree Note”). 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, the mechanics of which are set forth therein. The Company is required to make mandatory prepayments of the Oaktree Note under various circumstances set forth in the Oaktree Agreement. No amounts paid or prepaid may be reborrowed without Oaktree consent. Pursuant to the terms of the Oaktree 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 Oaktree administrative agent entity, which was due on the Closing Date and will be due annually, together with $2.5 million, in fees that were due 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 15) 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. AstraZeneca’s notification of its intent to acquire Caelum, received on September 28, 2021, is defined in the Oaktree Agreement as a monetization event and as such, triggered a $10 million prepayment and an applicable prepayment fee of $0.5 million. Accordingly, as of September 30, 2021, the prepayment amount and the fee were classified as short-term on the Company’s unaudited condensed consolidated balance sheet. The prepayment fee of $0.5 million was included in interest expense for the three months ended September 30, 2021. The Company paid the $10.5 million on October 12, 2021. Partner Company Installment Payments – Licenses The following tables show the details of partner company installment payments – licenses for the periods presented. September 30, 2021 ($ in thousands) Ximino 1 Accutane 2 Anti-Itch Product 3 Total Partner company installment payments - licenses, short-term $ 2,000 $ 2,000 $ 1,000 $ 5,000 Less: imputed interest (472) (84) (11) (567) Sub-total partner company installment payments - licenses, short-term $ 1,528 $ 1,916 $ 989 $ 4,433 Partner company installment payments - licenses, long-term $ 3,000 $ 1,000 $ — $ 4,000 Less: imputed interest (428) (33) — (461) Sub-total partner company installment payments - licenses, long-term $ 2,572 $ 967 $ — $ 3,539 Total partner company installment payments - licenses $ 4,100 $ 2,883 $ 989 $ 7,972 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 September 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 77 — $ 77 2017 Subordinated Note Financing — — — 694 1,374 2,068 2019 Notes — — — 172 — 172 2018 Venture Notes — — — 387 638 1,025 LOC Fees 14 — 14 14 — 14 Mustang Horizon Notes — — — 895 1,792 2,687 Oaktree Note 2,136 342 2,478 624 108 732 Partner company convertible preferred shares 1,034 378 1,412 — — — Partner company dividend payable 365 — 365 — — — Partner company installment payments - licenses 2 175 — 175 187 — 187 Other — — — (4) — (4) Total Interest Expense and Financing Fee $ 3,724 $ 720 $ 4,444 $ 3,046 $ 3,912 $ 6,958 Nine Months Ended September 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 246 $ - $ 246 2017 Subordinated Note Financing — — — 2,870 1,890 4,760 2019 Notes — — — 710 — 710 2018 Venture Notes — — — 1,253 1,000 2,253 LOC Fees 37 — 37 45 — 45 Mustang Horizon Notes — — — 1,585 2,321 3,906 Oaktree Note 5,455 975 6,430 624 108 732 Partner company convertible preferred shares 1,034 648 1,682 — — Partner company dividend payable 628 — 628 — — — Partner company installment payments - licenses 2 616 — 616 492 — 492 Other — — — (2) — (2) Total Interest Expense and Financing Fee $ 7,770 $ 1,623 $ 9,393 $ 7,823 $ 5,319 $ 13,142 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, Journey entered into an agreement with East West Bank (“EWB”) in which EWB agreed to provide a $7.5 million working capital line of credit. eredit is secured by Jounrey’s receivables and cash. Interest on the line is the greater of 4.25% or the Prime Rate plus 1%. The agreement matures in 36 months. There have been no amounts drawn upon this line of credit during the three or nine months ended September 30, 2021. Journey paid an origination fee of $56,250 in connection with the issuance of the working capital line of credit. 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 September 30, 2021 fees totaling approximately $0.1 million were recorded as a deferred asset on the unaudited condensed consolidated balance sheet.

Journey 8% Cumulative Convertib

Journey 8% Cumulative Convertible Class A Preferred Offering	9 Months Ended
	Sep. 30, 2021
Journey 8% Cumulative Convertible Class A Preferred Offering
Journey 8% Cumulative Convertible Class A Preferred Offering	11. Journey 8% Cumulative Convertible Class A Preferred Offering In March 2021, Journey commenced an offering of 8% Cumulative Convertible Class A Preferred Stock (“Journey Preferred Offering”) in an aggregate minimum amount of $12.5 million and an aggregate maximum amount of $30.0 million. The Journey Preferred Offering terminated on July 18, 2021. The Journey Preferred Stock automatically converts into Journey’s Common Stock upon a sale of Journey or a financing in an amount of at least $25.0 million within a year of the closing date of the Journey Preferred Offering (extendable by another six months at Journey’s option) at a discount of 15% to the per share qualified stock price. In the event that neither a sale of Journey nor a $25.0 million financing is completed, the Journey Preferred Stock will be exchanged for shares of Fortress common stock, at a 7.5% discount to the average Fortress common stock trading price over the 10-day period preceding such exchange. The Company evaluated the terms of the Journey Preferred Offering under ASC 480, Distinguishing Liabilities from Equity Dividends on the Journey Preferred Stock will be paid quarterly in shares of Fortress common stock based upon a 7.5% discount to the average trading price over the 10-day period preceding the dividend payment date As consideration for the foregoing, Journey will issue to Fortress additional shares of common stock, debt securities, or a combination of the two for the amount of such dividend. At September 30, 2021 the Company recorded Shares Issuable of $0.4 million representing the dividend payable on September 30, 2021 to the Journey Preferred Stock shareholders, the payment of which was contingent upon an effective registration statement, which was declared effective on November 4, 2021. Dividends paid on the Journey Preferred Stock are recorded as interest expense on the unaudited condensed consolidated statements of operations. For the three and nine months ended September 30, 2021, interest expense was $0.4 million and $0.6 million, respectively, associated with the Journey Preferred Stock. Journey has completed five closings in connection with the Journey Preferred Offering (“ Journey Closings”). In connection with the Journey Closings, Journey issued an aggregate of 758,680 Class A Preferred shares at a price of $25.00 per share, for gross proceeds of $19.0 million. Following the payment of placement agent fees of $1.9 million, and other expenses of $0.1 million, Journey received $17.0 million of net proceeds. Non-cash fees were the initial fair value of the contingent placement agent warrant of $0.4 million (see Note 6). The fees were recorded to debt discount on the unaudited interim condensed consolidated balance sheet at September 30, 2021.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	9 Months Ended
Accounts Payable and Accrued Expenses	Sep. 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: September 30, December 31, ($ in thousands) 2021 2020 (Unaudited) Accounts Payable $ 42,707 $ 11,412 Accrued expenses: Professional fees 1,320 1,236 Salaries, bonus and related benefits 7,100 6,701 Research and development 6,541 5,007 Research and development - manufacturing — 518 Research and development - license maintenance fees 645 461 Research and development - milestones 1,332 600 Accrued royalties payable 4,496 2,682 Accrued coupon expense 12,449 12,869 Income taxes payable — 136 Return reserve 3,652 2,580 Other 2,613 1,187 Total accounts payable and accrued expenses $ 82,855 $ 45,389

Non-Controlling Interests

Non-Controlling Interests	9 Months Ended
Non-Controlling Interests	Sep. 30, 2021
Non-Controlling Interests
Non-Controlling Interests	13. Non-Controlling Interests Non-controlling interests in consolidated entities are as follows: For the Nine Months Ended As of September 30, 2021 September 30, 2021 As of September 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 $ (247) $ (131) $ (378) 32.0 % Aevitas (4,049) (751) (4,800) 45.9 % Avenue 2 2,058 (2,182) (124) 77.5 % Baergic (1,995) (29) (2,024) 39.5 % Cellvation (1,400) (100) (1,500) 22.1 % Checkpoint 1 59,574 (20,618) 38,956 81.2 % Coronado SO (290) — (290) 13.0 % Cyprium (1,276) (623) (1,899) 29.8 % Helocyte (5,401) (65) (5,466) 18.3 % JMC 886 (2,339) (1,453) 7.2 % Mustang 2 136,441 (35,787) 100,654 82.4 % Oncogenuity (581) (555) (1,136) 24.9 % Tamid (730) — (730) 22.8 % Total $ 182,990 $ (63,180) $ 119,810 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	9 Months Ended
Net Loss per Common Share	Sep. 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 nine months ended September 30, 2021: Nine Months Ended September 30, 2021 2020 Warrants to purchase Common Stock 4,535,804 3,026,693 Options to purchase Common Stock 836,732 1,187,600 Unvested Restricted Stock 16,372,752 14,305,949 Unvested Restricted Stock Units 209,595 434,215 Total 21,954,883 18,954,457

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 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 September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 Employee and non-employee awards $ 2,185 $ 1,231 $ 6,236 $ 3,868 Executive awards of Fortress Companies' stock 377 369 1,070 1,136 Warrants — 32 — 97 Partner Companies: Avenue 69 161 299 592 Checkpoint 779 725 2,319 2,095 Mustang 884 606 2,427 2,368 Other 32 47 98 163 Total stock-based compensation expense $ 4,326 $ 3,171 $ 12,449 $ 10,319 For the three months ended September 30, 2021 and 2020, approximately $1.1 million and $0.7 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 $3.2 million and $2.5 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 nine months ended September 30, 2021 and 2020, approximately $3.1 million and $2.5 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 $9.4 million and $7.8 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 (35,000) 4.33 — — Options vested and expected to vest at September 30, 2021 1,018,490 $ 5.04 $ 666,957 1.93 Options vested and exercisable at September 30, 2021 1,018,490 $ 5.04 $ 666,957 1.93 As of September 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 (301,492) 2.75 Restricted stock units granted 1,130,842 4.13 Restricted stock units forfeited (96,750) 3.49 Restricted stock units vested (493,027) 3.51 Unvested balance at September 30, 2021 18,077,755 $ 2.64 As of September 30, 2021 and 2020, the Company had unrecognized stock-based compensation expense related to restricted stock and restricted stock unit awards of approximately $21.1 million and $17.5 million, respectively, which is expected to be recognized over the remaining weighted-average vesting period of 3.1 years and 3.9 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 September 30, 2021 4,505,621 $ 3.20 $ 632,587 4.19 Exercisable as of September 30, 2021 4,370,621 $ 3.23 $ 475,087 4.11 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 Oaktree 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 (“ESPP”) 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 September 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 $31,000 and $38,000, respectively, for the three months ended September 30, 2021 and 2020 and approximately $0.1 million and $0.1 million, respectively, for the nine months ended September 30, 2021 and 2020. Capital Raises Journey 8% Cumulative Convertible Class A Preferred Offering See Note 11. At-the-Market Offering For the nine-month period ended September 30, 2021, the Company issued 786,300 shares pursuant to the terms of the Company’s Amended and Restated At Market Issuance Sales Agreement, or Sales Agreement (the “ATM”), with B. Riley FBR, Inc. at an average price of $3.60 for gross proceeds of $2.8 million, before fees of approximately $0.1 million. For the nine month period ended September 30, 2020, the Company issued approximately 16.4 million shares of common stock under the ATM at an average price of $2.74 per share for gross proceeds of $44.8 million. In connection with these sales, the Company paid aggregate fees of approximately $1.6 million. Mustang At-the-Market Offering During the nine months ended September 30, 2021, Mustang issued approximately 17.3 million shares of common stock at an average price of $3.87 per share for gross proceeds of $66.9 million under the Mustang ATM. In connection with these sales, Mustang paid aggregate fees of approximately $1.3 million. During the nine months ended September 30, 2020, Mustang issued approximately 7.2 million shares of common stock at an average price of $3.56 per share for gross proceeds of $25.6 million under the Mustang ATM. In connection with these sales, Mustang paid aggregate fees of approximately $0.5 million. Pursuant to the Founders Agreement, Mustang issued 517,304 shares of common stock to Fortress at a weighted average price of $3.84 per share and recorded 52,019 shares issuable to Fortress for the nine months ended September 30, 2021 in connection with the shares issued under the Mustang ATM. During the nine months ended September 30, 2020, Mustang issued 117,405 shares of common stock to Fortress at a weighted average price of $3.56 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 “Mustang 2020 S-3”), which was declared effective on December 4, 2020. Under the Mustang 2020 S-3, Mustang may sell up to a total of $100.0 million of its securities. As of September 30, 2021, approximately $19.3 million of the Mustang 2020 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. As of September 30, 2021, there have been no sales of securities under the Mustang 2021 S-3. Checkpoint At-the-Market Offering During the nine months ended September 30, 2021, Checkpoint issued a total of 10,860,983 shares of common stock under the Checkpoint ATM for aggregate total gross proceeds of approximately $37.2 million at an average selling price of $3.42 per share, resulting in net proceeds of approximately $36.3 million after deducting commissions and other transaction costs. Pursuant to the Founders Agreement, Checkpoint issued 271,515 shares of common stock to Fortress at a weighted average price of $3.41 per share. During the nine months ended September 30, 2020, Checkpoint sold a total of 3,614,344 shares of common stock under the Checkpoint ATM for aggregate total gross proceeds of approximately $8.7 million at an average selling price of $2.40 per share, resulting in net proceeds of approximately $8.4 million after deducting commissions and other transaction costs. Checkpoint Underwritten Offering In September 2020, Checkpoint completed an underwritten public offering in which it sold 7,321,429 shares of its common stock at a price of $2.80 per share for gross proceeds of approximately $20.5 million. Total net proceeds from the offering were approximately $18.9 million, net of underwriting discounts and offering expenses of approximately $1.6 million. The shares were sold under a shelf registration statement on Form S-3 that Checkpoint filed in November 2017 and was declared effective in December 2017 (“the Checkpoint S-3”). Pursuant to the Founders Agreement, Checkpoint issued 273,379 shares of common stock to Fortress at a weighted average price of $2.92 per share for the Checkpoint ATM offerings and the Checkpoint Underwritten offering. At September 30, 2021, approximately $58.7 million of the Checkpoint shelf remains available for sale under the Checkpoint S-3.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 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, 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 agreed to 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 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 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. 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	9 Months Ended
Related Party Transactions	Sep. 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 10.6% of the Company’s issued and outstanding Common Stock as of September 30, 2021. The Company’s Executive Vice Chairman, Strategic Development owns approximately 11.4% of the Company’s issued and outstanding Common Stock as of September 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 September 30, 2021 and 2020, the Company invoiced TGTX $0.1 million and 0.1 million, respectively. For the nine months ended September 30, 2021 and 2020, the Company invoiced TGTX $0.3 million and $0.3 million, respectively. On September 30, 2021, the amount due from TGTX related to this arrangement approximated $69,000 . Shared Services Agreement with Journey On November 12, 2021, Journey and the Company entered into an arrangement to share the cost of certain legal, finance, regulatory, and research and development employees. The Company’s Executive Chairman and Chief Executive Officer is the Executive Chairman of Journey. Under the terms of the Agreement, Journey will reimburse the Company for the salary and benefit costs associated with these employees based upon actual hours worked on Journey related projects following the completion of their initial public offering. To date, the Company’s employees have provided services to Journey totaling approximately $0.4 million. Upon completion of Journey’s initial public offering the amount due will be converted into Journey common stock at the initial public offering price. Desk Space Agreements with TGTX and Opus Point Partners Management, LLC (“OPPM”) In connection with the Company’s Desk Space Agreements for the New York, NY office space, for the three months ended September 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 September 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 September 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 $21,000 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 $0.1 million for the three and nine months ended September 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 Avenue 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 Avenue SPMA. Amounts potentially payable to these Avenue key employees were $2.9 million as of September 30, 2021. Effective upon termination of the Avenue SPMA, which was terminated on November 1, 2021, the amounts payable under the Fortress Retention Agreements no longer have any force or effect. Journey Promissory Note: On September 30, 2021, the Company increased the Journey promissory note by $9.5 million in response to a cyber incident that occurred at Journey and resulted in $9.5 million of fraudulent payments. The $9.5 million contribution was approved by the boards of directors of both the Company and Journey, and will ensure that Journey’s accounts payable function will continue to operate smoothly. This contribution, along with $5.2 million already outstanding under the Journey Promissory Note, will convert into Journey common stock upon the consummation of the Journey IPO at the Journey IPO price. The amounts associated with the Journey Promissory Note are eliminated in the unaudited condensed consolidated balance sheets. 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 Caelum January 1, 2017 0.0 % 4 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 Avenue SPMA entered into between, Avenue, the Company and InvaGen (together, the “ SPMA Parties”), the SPMA Parties entered into a waiver and termination 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. 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, 2020, filed with the SEC on March 31, 2021. 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 (together, the “SPMA Parties”), the SPMA Parties entered into a waiver and termination 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.

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 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 (Certain reclass adjustments were made in the quarter ended September 30, 2021 to conform with the filing of the Journey Medical Corporation Form S-1 on October 22, 2021, as amended on November 8, 2021): Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product Three Months Ended September 30, 2021 Sales Development Consolidated Net revenue $ 19,610 $ 1,475 $ 21,085 Direct cost of goods (11,167) — (11,167) Research and development (794) (27,286) (28,080) General and administrative 1 (10,755) (11,466) (22,221) Wire transfer fraud loss (9,540) — (9,540) Other expense (1,375) 5,437 4,062 Segment loss $ (14,021) (31,841) $ (45,861) Note 1: Pharmaceutical and Dermatology Biotechnology ($ in thousands) Products Product Three Months Ended September 30, 2020 Sales Development Consolidated Net revenue $ 9,447 $ 28 $ 9,475 Direct cost of goods (3,379) — (3,379) Research and development — (13,756) (13,756) General and administrative 1 (5,829) (9,554) (15,383) Other expense (187) (6,734) (6,921) Segment income (loss) $ 52 $ (30,016) $ (29,964) Note 1: Pharmaceutical and Dermatology Biotechnology Products Product Nine Months Ended September 30, 2021 Sales Development Consolidated Net revenue $ 45,617 $ 4,898 $ 50,515 Direct cost of goods (22,559) — (22,559) Research and development (14,566) (71,245) (85,811) General and administrative 1 (24,776) (34,369) (59,145) Wire transfer fraud loss (9,540) — (9,540) Other Expenses (3,120) 33,342 30,222 Segment loss $ (28,944) $ (67,374) $ (96,318) Note 1: Pharmaceutical and Dermatology Biotechnology Products Product Nine Months Ended September 30, 2020 Sales Development Consolidated Net revenue $ 30,808 $ 1,042 $ 31,850 Direct cost of goods (10,313) — (10,313) Research and development — (46,146) (46,146) General and administrative 1 (16,284) (29,074) (45,358) Other expense (492) (12,036) (12,528) Segment income (loss) $ 3,719 $ (86,214) $ (82,495) Note 1: The following tables summarize, for the periods indicated, total assets by reportable segment: Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product September 30, 2021 Sales Development Total Assets Intangible assets, net $ 13,043 $ — $ 13,043 Tangible assets 67,597 327,193 394,790 Total segment assets $ 80,640 $ 327,193 $ 407,833 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	9 Months Ended
Revenues from Contracts and Significant Customers	Sep. 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 comprises 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 nine months ending September 30, 2021 and 2020: Three months ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue Product revenue, net $ 19,610 $ 9,447 $ 45,617 $ 30,808 Collaboration revenue 1,446 — 4,646 — Revenue – related party 29 28 252 1,042 Net revenue $ 21,085 $ 9,475 $ 50,515 $ 31,850 Significant Customers For the three months ended September 30, 2021, one of the Company’s dermatology products customers accounted for more than 10% of its total gross product revenue at 10.1%. For the nine months ended September 30, 2021, none of the Company’s dermatology products customers accounted for more than 10% of its total gross product revenue. For the three months ended September 30, 2020, none of the Company’s dermatology products customers accounted for more than 10% of its total gross product revenue. For the nine months ended September 30, 2020, one of the Company’s dermatology products customers accounted for more than 10% of its total gross product revenue. At September 30, 2021, two of the Company’s dermatology products customers accounted for more than 10% of its total accounts receivable balance at 20.7% and 14.9%. At December 31, 2020, one of the Company’s dermatology products customers accounted for more than 10% of its total accounts balance at 14.5%.

Income taxes

Income taxes	9 Months Ended
Income taxes	Sep. 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 does not expect to realize the net deferred tax asset and as such has recorded a full valuation allowance. 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 nine months ended September 30, 2021 and 2020 is based on the estimated annual effective tax rate. Based on the Company’s effective tax rate and full valuation allocation, tax expense is expected to be $0 for 2021.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	21. Subsequent Events Caelum Acquisition On September 28, 2021, AstraZeneca notified the Company of its intention to exercise its option to purchase all of the equity of Caelum. The transaction closed on October 5, 2021. The Company received 42.4% of the distribution of proceeds from the option exercise price of $150 million, approximately $56.9 million, which is net of the 10%, 24-month escrow holdback and other miscellaneous transaction expenses. On September 30, 2021, the Company fair valued its investment in Caelum at $56.9 million, an increase of $8.4 million and $39.3 million for the three and nine months ended September 30, 2021, respectively. Journey Initial Public Offering (the “Journey IPO”) The Journey IPO is expected to close on November 16, 2021, subject to customary closing conditions, resulting in the issuance of 3,520,000 shares of Journey’s common stock. The shares are issued at $10.00 per share, resulting in net proceeds of approximately $31.4 million, after deducting underwriting discounts and other offering costs. In addition, Journey granted the underwriters a 30-day option to purchase up to an additional 528,000 additional shares of common stock, at the public offering price, less the underwriting discount, to cover over-allotments, if any. Journey’s common stock began trading on the Nasdaq Capital Market on November 12, 2021 under the ticker symbol “DERM.” Avenue Underwritten Public Offering of Common Stock On November 12, 2021, pursuant to an underwritten public offering, Avenue sold 1,946,787 shares of its common stock at a price of $1.34 per share for gross proceeds of approximately $2.6 million before deducting underwriting discounts and commissions and other estimated expenses. In addition, Avenue granted the underwriters a 45-day option to purchase additional shares of common stock, representing up to 15% of the number of total shares, solely to cover over-allotments, if any, which would increase the total gross proceeds of the offering to approximately $3.0 million, if the over-allotment option is exercised in full.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2021
Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying interim unaudited 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 interim unaudited 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 unaudited 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 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, Avenue’s Form 10-K, filed with the SEC on March 31, 2021, and the public filing of the Journey Medical Corporation Form S-1 on October 22, 2021, as amended on November 8, 2021 and November 10, 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’s capital stock 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 September 30, 2021 and December 31, 2020, the Company had $1.6 million of restricted cash representing 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 unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows at September 30, 2021, and 2020: September 30, 2021 2020 Cash and cash equivalents $ 252,721 $ 218,389 Restricted cash 1,645 1,645 Total cash and cash equivalents and restricted cash $ 254,366 $ 220,034
Revenue Recognition/Collaboration Revenue	Revenue Recognition The Company records revenue (“ASC”) Topic Revenue from Contracts with Customers (“ASC revenue revenue for revenues have Company’s when Many of the Company’s rebates, Revenues for rebates, programs, allowances. for interim receivable, for revenue rely heavily Company’s provisions for Trade Discounts and Other Sales Allowances Product Returns — The Company currently estimates product returns to be approximately 3% of gross sales to the wholesalers. The 3% return rate is estimated by using both historical and industry data. The Company monitors product returns on a quarterly basis, and will adjust the estimated return percentage if needed. The Company does not estimate returns for sales made to specialty pharmacies as their historical ordering pattern is approximately every two weeks and, as such, inventory turns every two weeks. Government Chargebacks — Chargebacks for fees and discounts to indirect qualified government healthcare providers represent the estimated obligations resulting from contractual commitments to sell products to qualified U.S. Department of Veterans Affairs hospitals and 340B entities at prices lower than the list prices charged to customers who purchase product directly from the Company. Customers charge the Company for the difference between what they pay for the product and the statutory selling price to the qualified government entity. These allowances are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue and accounts receivable, net. The chargeback amount from our direct customers is generally determined at the time of our direct customers’ resale to the qualified government healthcare provider, and the Company generally issues credits for such amounts within a few weeks of our direct customer’s notification to the Company of the resale. The allowance for chargebacks is based on expected sellthrough levels by our direct customers to indirect customers, as well as estimated wholesaler inventory levels. Government Rebates — Coupons — . Managed Care Rebates 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 unaudited 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. The acquired Qbrezxa finished goods inventory includes a fair value step-up of $6.5 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.
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 ASC 815-40-35 Derivatives and Hedging
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Recently Issued Accounting Pronouncements In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) In August 2020, the FASB issued 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 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 unaudited condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 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 unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows at September 30, 2021, and 2020: September 30, 2021 2020 Cash and cash equivalents $ 252,721 $ 218,389 Restricted cash 1,645 1,645 Total cash and cash equivalents and restricted cash $ 254,366 $ 220,034

Inventory (Tables)

Inventory (Tables)	9 Months Ended
Inventory (Tables)	Sep. 30, 2021
Inventory
Schedule of Inventory	Inventory consisted of the following: September 30, December 31, ($ in thousands) 2021 2020 Raw materials $ 5,453 $ — Work-in-process — — Finished goods 6,161 1,404 Total inventories $ 11,614 $ 1,404

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Sep. 30, 2021
Property and Equipment
Schedule of Property and Equipment	Fortress’ property and equipment consisted of the following: Useful Life September 30, December 31, ($ in thousands) (Years) 2021 2020 Computer equipment 3 $ 739 $ 663 Furniture and fixtures 5 1,387 1,199 Machinery & equipment 5 6,330 5,748 Leasehold improvements 2-15 13,134 10,580 Construction in progress 1 N/A 1,019 499 Total property and equipment 22,609 18,689 Less: Accumulated depreciation (8,634) (6,766) Property and equipment, net $ 13,975 $ 11,923 Note 1: Relates to the Mustang cell processing facility.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2021
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The tables below provide a roll-forward of the changes in fair value of Level 3 financial instruments as of September 30, 2021: Investment in ($ in thousands) Caelum Balance at December 31, 2020 $ 17,566 Change in fair value of investments 39,294 Balance at September 30, 2021 $ 56,860
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 September 30, 2021 and December 31, 2020: Fair Value Measurement as of September 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Assets Fair value of investment in Caelum $ — $ — $ 56,860 $ 56,860 Total $ — $ — $ 56,860 $ 56,860 Fair Value Measurement as of September 30, 2021 ($ in thousands) Level 1 Level 2 Level 3 Total Liabilities Journey derivative warrant liabilities $ — $ — $ 4,365 $ 4,365 Total $ — $ — $ 4,365 $ 4,365 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 3,820 Journey placement agent warrant 545 Balance at September 30, 2021 $ 4,365
Placement Agent Warrants [Member] \| Journey [Member]
Summary of the Weighted average Significant Unobservable Inputs	September 30, 2021 Risk-free interest rate 0.98 % Expected dividend yield — Expected term in years 1.0 Expected volatility 50 %
Contingent Payment Warrant [Member] \| Journey [Member]
Summary of the Weighted average Significant Unobservable Inputs	The Company 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 September 30, 2021 was as follows: September 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)	9 Months Ended
Licenses Acquired (Tables)	Sep. 30, 2021
Licenses Acquired
Schedule of Research and Development-Licenses	Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 Partner companies: JMC $ 76 $ — $ 13,819 $ — Mustang 630 287 1,630 1,837 Aevitas 7 162 34 162 Baergic — 8 — 8 Oncogenuity — 1 1 271 FBIO Acquisition Corp VIII — — 101 — Total $ 713 $ 458 $ 15,585 $ 2,278
Schedule of Research and Development for Licenses Acquired	For the Three Months Ended September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center CD123 (MB-102) $ — $ — $ 250 $ 334 IL13Rα2 (MB-101) — — — 333 HER2 (MB-103) — — — 250 PSCA (MB-105) 250 — 250 — Spacer — — — 333 Mayo Clinic — — 750 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) — — — 300 Leiden University Medical Centre 350 — 350 — CSL Behring (Calimmune) 30 170 30 170 SIRION Biotech LentiBOOST TM — 117 — 117 Total $ 630 $ 287 $ 1,630 $ 1,837

Intangibles, net (Tables)

Intangibles, net (Tables)	9 Months Ended
Intangibles, net (Tables)	Sep. 30, 2021
Intangibles, net
Schedule of JMC Intangible Asset	The table below provides a summary of the Journey intangible assets as of September 30, 2021 and December 31, 2020, respectively: Estimated Useful ($ in thousands) Lives (Years) September 30, 2021 December 31, 2020 (Unaudited) Total intangible assets – asset purchases 3 to 7 $ 19,003 $ 18,606 Accumulated amortization (5,960) (3,977) Net intangible assets $ 13,043 $ 14,629
Schedule of JMC recognized expense related to its product licenses	The table below provides a summary for the nine months ended September 30, 2021, of Journey’s recognized expense related to its product licenses, which was recorded in costs of goods sold on the unaudited condensed consolidated statement of operations: Intangible ($ in thousands) Assets, Net Beginning balance at January 1, 2021 $ 14,629 Additions: Exelderm milestone 397 Amortization expense (1,983) Ending balance at September 30, 2021 $ 13,043
Schedule of future amortization of intangible assets	The future amortization of these intangible assets is as follows: Total ($ in thousands) Ximino® Accutane® Amortization Three months ending December 31, 2021 $ 255 $ 236 $ 491 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 $ 4,926 $ 4,175 $ 9,101 Assets not yet placed in service: Anti-itch product license acquisition — — 3,942 Total $ 4,926 $ 4,175 $ 13,043

Debt and Interest (Tables)

Debt and Interest (Tables)	9 Months Ended
Debt and Interest (Tables)	Sep. 30, 2021
Debt and Interest
Schedule of Debt	Total debt consists of the following as of September 30, 2021 and December 31, 2020: September 30, December 31, ($ in thousands) 2021 2020 Interest rate Maturity (Unaudited) Total notes payable - Oaktree Note $ 60,450 $ 60,000 11.00 % August - 2025 Less: Discount on notes payable (7,431) (8,323) Total notes payable $ 53,019 $ 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. September 30, 2021 ($ in thousands) Ximino 1 Accutane 2 Anti-Itch Product 3 Total Partner company installment payments - licenses, short-term $ 2,000 $ 2,000 $ 1,000 $ 5,000 Less: imputed interest (472) (84) (11) (567) Sub-total partner company installment payments - licenses, short-term $ 1,528 $ 1,916 $ 989 $ 4,433 Partner company installment payments - licenses, long-term $ 3,000 $ 1,000 $ — $ 4,000 Less: imputed interest (428) (33) — (461) Sub-total partner company installment payments - licenses, long-term $ 2,572 $ 967 $ — $ 3,539 Total partner company installment payments - licenses $ 4,100 $ 2,883 $ 989 $ 7,972 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 September 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 77 — $ 77 2017 Subordinated Note Financing — — — 694 1,374 2,068 2019 Notes — — — 172 — 172 2018 Venture Notes — — — 387 638 1,025 LOC Fees 14 — 14 14 — 14 Mustang Horizon Notes — — — 895 1,792 2,687 Oaktree Note 2,136 342 2,478 624 108 732 Partner company convertible preferred shares 1,034 378 1,412 — — — Partner company dividend payable 365 — 365 — — — Partner company installment payments - licenses 2 175 — 175 187 — 187 Other — — — (4) — (4) Total Interest Expense and Financing Fee $ 3,724 $ 720 $ 4,444 $ 3,046 $ 3,912 $ 6,958 Nine Months Ended September 30, 2021 2020 ($ in thousands) Interest Fees 1 Total Interest Fees 1 Total IDB Note $ — $ — $ — $ 246 $ - $ 246 2017 Subordinated Note Financing — — — 2,870 1,890 4,760 2019 Notes — — — 710 — 710 2018 Venture Notes — — — 1,253 1,000 2,253 LOC Fees 37 — 37 45 — 45 Mustang Horizon Notes — — — 1,585 2,321 3,906 Oaktree Note 5,455 975 6,430 624 108 732 Partner company convertible preferred shares 1,034 648 1,682 — — Partner company dividend payable 628 — 628 — — — Partner company installment payments - licenses 2 616 — 616 492 — 492 Other — — — (2) — (2) Total Interest Expense and Financing Fee $ 7,770 $ 1,623 $ 9,393 $ 7,823 $ 5,319 $ 13,142 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)	9 Months Ended
Accounts Payable and Accrued Expenses (Tables)	Sep. 30, 2021
Accounts Payable and Accrued Expenses
Schedule of accounts payable and accrued expenses	Accounts payable and accrued expenses consisted of the following: September 30, December 31, ($ in thousands) 2021 2020 (Unaudited) Accounts Payable $ 42,707 $ 11,412 Accrued expenses: Professional fees 1,320 1,236 Salaries, bonus and related benefits 7,100 6,701 Research and development 6,541 5,007 Research and development - manufacturing — 518 Research and development - license maintenance fees 645 461 Research and development - milestones 1,332 600 Accrued royalties payable 4,496 2,682 Accrued coupon expense 12,449 12,869 Income taxes payable — 136 Return reserve 3,652 2,580 Other 2,613 1,187 Total accounts payable and accrued expenses $ 82,855 $ 45,389

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	9 Months Ended
Non-Controlling Interests (Tables)	Sep. 30, 2021
Non-Controlling Interests
Schedule of Non-Controlling Interests in Consolidated Entities	Non-controlling interests in consolidated entities are as follows: For the Nine Months Ended As of September 30, 2021 September 30, 2021 As of September 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 $ (247) $ (131) $ (378) 32.0 % Aevitas (4,049) (751) (4,800) 45.9 % Avenue 2 2,058 (2,182) (124) 77.5 % Baergic (1,995) (29) (2,024) 39.5 % Cellvation (1,400) (100) (1,500) 22.1 % Checkpoint 1 59,574 (20,618) 38,956 81.2 % Coronado SO (290) — (290) 13.0 % Cyprium (1,276) (623) (1,899) 29.8 % Helocyte (5,401) (65) (5,466) 18.3 % JMC 886 (2,339) (1,453) 7.2 % Mustang 2 136,441 (35,787) 100,654 82.4 % Oncogenuity (581) (555) (1,136) 24.9 % Tamid (730) — (730) 22.8 % Total $ 182,990 $ (63,180) $ 119,810 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)	9 Months Ended
Net Loss per Common Share (Tables)	Sep. 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 nine months ended September 30, 2021: Nine Months Ended September 30, 2021 2020 Warrants to purchase Common Stock 4,535,804 3,026,693 Options to purchase Common Stock 836,732 1,187,600 Unvested Restricted Stock 16,372,752 14,305,949 Unvested Restricted Stock Units 209,595 434,215 Total 21,954,883 18,954,457

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 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 September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 Employee and non-employee awards $ 2,185 $ 1,231 $ 6,236 $ 3,868 Executive awards of Fortress Companies' stock 377 369 1,070 1,136 Warrants — 32 — 97 Partner Companies: Avenue 69 161 299 592 Checkpoint 779 725 2,319 2,095 Mustang 884 606 2,427 2,368 Other 32 47 98 163 Total stock-based compensation expense $ 4,326 $ 3,171 $ 12,449 $ 10,319
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 (35,000) 4.33 — — Options vested and expected to vest at September 30, 2021 1,018,490 $ 5.04 $ 666,957 1.93 Options vested and exercisable at September 30, 2021 1,018,490 $ 5.04 $ 666,957 1.93
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 (301,492) 2.75 Restricted stock units granted 1,130,842 4.13 Restricted stock units forfeited (96,750) 3.49 Restricted stock units vested (493,027) 3.51 Unvested balance at September 30, 2021 18,077,755 $ 2.64
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 September 30, 2021 4,505,621 $ 3.20 $ 632,587 4.19 Exercisable as of September 30, 2021 4,370,621 $ 3.23 $ 475,087 4.11

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
Related Party Transactions (Tables)	Sep. 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 Caelum January 1, 2017 0.0 % 4 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 Avenue SPMA entered into between, Avenue, the Company and InvaGen (together, the “ SPMA Parties”), the SPMA Parties entered into a waiver and termination 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. 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, 2020, filed with the SEC on March 31, 2021. 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 (together, the “SPMA Parties”), the SPMA Parties entered into a waiver and termination 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.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 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 (Certain reclass adjustments were made in the quarter ended September 30, 2021 to conform with the filing of the Journey Medical Corporation Form S-1 on October 22, 2021, as amended on November 8, 2021): Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product Three Months Ended September 30, 2021 Sales Development Consolidated Net revenue $ 19,610 $ 1,475 $ 21,085 Direct cost of goods (11,167) — (11,167) Research and development (794) (27,286) (28,080) General and administrative 1 (10,755) (11,466) (22,221) Wire transfer fraud loss (9,540) — (9,540) Other expense (1,375) 5,437 4,062 Segment loss $ (14,021) (31,841) $ (45,861) Note 1: Pharmaceutical and Dermatology Biotechnology ($ in thousands) Products Product Three Months Ended September 30, 2020 Sales Development Consolidated Net revenue $ 9,447 $ 28 $ 9,475 Direct cost of goods (3,379) — (3,379) Research and development — (13,756) (13,756) General and administrative 1 (5,829) (9,554) (15,383) Other expense (187) (6,734) (6,921) Segment income (loss) $ 52 $ (30,016) $ (29,964) Note 1: Pharmaceutical and Dermatology Biotechnology Products Product Nine Months Ended September 30, 2021 Sales Development Consolidated Net revenue $ 45,617 $ 4,898 $ 50,515 Direct cost of goods (22,559) — (22,559) Research and development (14,566) (71,245) (85,811) General and administrative 1 (24,776) (34,369) (59,145) Wire transfer fraud loss (9,540) — (9,540) Other Expenses (3,120) 33,342 30,222 Segment loss $ (28,944) $ (67,374) $ (96,318) Note 1: Pharmaceutical and Dermatology Biotechnology Products Product Nine Months Ended September 30, 2020 Sales Development Consolidated Net revenue $ 30,808 $ 1,042 $ 31,850 Direct cost of goods (10,313) — (10,313) Research and development — (46,146) (46,146) General and administrative 1 (16,284) (29,074) (45,358) Other expense (492) (12,036) (12,528) Segment income (loss) $ 3,719 $ (86,214) $ (82,495) Note 1: The following tables summarize, for the periods indicated, total assets by reportable segment: Pharmaceutical and ($ in thousands) Dermatology Biotechnology Products Product September 30, 2021 Sales Development Total Assets Intangible assets, net $ 13,043 $ — $ 13,043 Tangible assets 67,597 327,193 394,790 Total segment assets $ 80,640 $ 327,193 $ 407,833 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)	9 Months Ended
Revenues from Contracts and Significant Customers (Tables)	Sep. 30, 2021
Revenues from Contracts and Significant Customers
Schedule of disaggregation of total revenues	Product revenue comprises 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 nine months ending September 30, 2021 and 2020: Three months ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue Product revenue, net $ 19,610 $ 9,447 $ 45,617 $ 30,808 Collaboration revenue 1,446 — 4,646 — Revenue – related party 29 28 252 1,042 Net revenue $ 21,085 $ 9,475 $ 50,515 $ 31,850

Organization and Description _2

Organization and Description of Business (Narrative) (Details) - Caelum [Member] - AstraZeneca [Member] - Subsequent Events [Member] $ in Millions	Oct. 06, 2021USD ($)
Deconsolidation of consolidated partner company, percentage deconsolidated	100.00%
Deconsolidation of consolidated partner company, upfront payment	$ 150
Deconsolidation of consolidated partner company, contingent payment	350
Maximum [Member]
Deconsolidation of consolidated partner company, contingent payment	$ 350

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Line Items]
Estimated product return percentage	3.00%
Return reserves related to accounts receivable reclassified to current liabilities		$ 4.6
Product Revenue Benchmark [Member] \| Product Concentration Risk [Member] \| Sales Channel, Through Intermediary [Member]
Accounting Policies [Line Items]
Concentration risk, percentage	85.00%
Letter of Credit [Member]
Accounting Policies [Line Items]
Restricted cash	$ 1.6	$ 1.6
Minimum [Member]
Accounting Policies [Line Items]
Prompt pay discount term	30 days
Maximum [Member]
Accounting Policies [Line Items]
Ownership percentage of the subsidiary to consolidate their accounts	100.00%
Prompt pay discount term	75 days
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%
Qbrexza [Member] \| Fair Value Adjustment to Inventory [Member]
Accounting Policies [Line Items]
Finished good inventory, fair value step-up	$ 6.5

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Schedule of Cash and Cash Equivalents) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies
Cash and cash equivalents	$ 252,721	$ 233,351	$ 218,389
Restricted cash	1,645		1,645
Total cash and cash equivalents and restricted cash	$ 254,366	$ 234,996	$ 220,034	$ 153,432

Collaboration and Stock Purch_2

Collaboration and Stock Purchase Agreements (Narrative) (Details) $ / shares in Units, $ in Thousands, shares in Millions	Oct. 06, 2021USD ($)	Feb. 24, 2021USD ($)Milestone	Feb. 08, 2019USD ($)$ / sharesshares	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Collaboration revenue				$ 1,446	$ 0	$ 4,646	$ 0
Accumulated deficit				(515,898)		(515,898)		$ (482,760)
Cash and cash equivalents				252,721	$ 218,389	252,721	$ 218,389	233,351
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%
Number of net sales milestones \| Milestone		5
Number of development milestones \| Milestone		2
Collaboration revenue				1,400		4,600		$ 0
Avenue [Member]
Accumulated deficit				76,100		76,100
Cash and cash equivalents				$ 600		$ 600
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%
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 \| shares			5.8
Stock offering, price per share \| $ / shares			$ 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
Subsequent Events [Member] \| Caelum [Member] \| AstraZeneca [Member]
Deconsolidation of consolidated partner company, upfront payment	$ 150,000
Deconsolidation of consolidated partner company, contingent payment	350,000
Subsequent Events [Member] \| Maximum [Member] \| Caelum [Member] \| AstraZeneca [Member]
Deconsolidation of consolidated partner company, contingent payment	$ 350,000

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) $ in Millions	9 Months Ended
Inventory (Narrative) (Details) $ in Millions	Sep. 30, 2021USD ($)
Fair Value Adjustment to Inventory [Member] \| Qbrexza [Member]
Finished good inventory, fair value step-up	$ 6.5

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property and Equipment
Raw materials	$ 5,453	$ 0
Work-in-process	0	0
Finished goods	6,161	1,404
Total inventories	$ 11,614	$ 1,404

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property and Equipment
Depreciation expense	$ 700	$ 600	$ 1,868	$ 1,676

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 22,609	$ 18,689
Less: Accumulated depreciation	(8,634)	(6,766)
Property and equipment, net	13,975	11,923
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 739	663
Useful Life (Years)	3 years
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 1,387	1,199
Useful Life (Years)	5 years
Machinery & equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 6,330	5,748
Useful Life (Years)	5 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 13,134	10,580
Leasehold improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful Life (Years)	2 years
Leasehold improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful Life (Years)	15 years
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 1,019	$ 499

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands	Oct. 06, 2021USD ($)	Oct. 05, 2021	Mar. 31, 2021USD ($)	Sep. 30, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)$ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common stock, value				$ 99	$ 95
Caelum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investment				17,600	$ 17,600
Caelum [Member] \| AstraZeneca [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investment				$ 56,900
Percentage of net proceeds expected to receive upon distribution of the option exercise price				42.40%
Percentage of escrow holdback				10.00%
Deconsolidation of partner company, escrow distribution period				24 months
Legal expenses related to deconsolidation				$ 1,100
Caelum [Member] \| Share Price [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, measurement input \| $ / shares				2.43	2.43
Caelum [Member] \| Risk Free Interest Rate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, measurement input				0.0036
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				0.21
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				0.31
Journey [Member] \| DFD Agreement [Member] \| Dr. Reddy's Laboratories, Ltd [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Minimum market capitalization for contingent payment				$ 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 June 29, 2021 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
Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of common stock for which the Preferred A is exchanged			15.00%
Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member] \| Preferred Stock has not been Converted into Journey Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred stock offering, aggregate proceeds			$ 25,000
Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred stock offering, aggregate proceeds			12,500
Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred stock offering, aggregate proceeds			$ 30,000
Placement Agent Warrants [Member] \| Journey [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value				$ 500
Placement Agent Warrants [Member] \| Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of common stock for which the Preferred A is exchanged				5.00%
Warrant expiration term				5 years
Warrants exercise price discount percentage				15.00%
Placement Agent Warrants [Member] \| Journey [Member] \| 8% Cumulative Convertible Class A Preferred Stock [Member] \| Preferred Stock has not been Converted into Journey Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Preferred stock offering, aggregate proceeds				$ 25,000
Contingent Payment Warrant [Member] \| Journey [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value				$ 3,800	$ 0
Subsequent Events [Member] \| Caelum [Member] \| AstraZeneca [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deconsolidation of consolidated partner company, upfront payment	$ 150,000
Percentage of escrow holdback		10.00%

Fair Value Measurements (Weight

Fair Value Measurements (Weighted average Significant Unobservable Inputs) (Details) - Journey [Member]	Sep. 30, 2021USD ($)Y
Placement Agent Warrants [Member] \| Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.0098
Placement Agent Warrants [Member] \| Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input \| Y	1
Placement Agent Warrants [Member] \| Expected Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability, measurement input	0.50
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 \| Y	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	Sep. 30, 2021	Dec. 31, 2020
Assets
Assets, fair value		$ 17,566
Liabilities
Liabilities, fair value	$ 4,365
Caelum [Member]
Assets
Assets, fair value	56,860	17,566
Warrants [Member]
Liabilities
Liabilities, fair value	4,365
Level 1 [Member]
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]
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		17,566
Liabilities
Liabilities, fair value	4,365
Level 3 [Member] \| Caelum [Member]
Assets
Assets, fair value	56,860	$ 17,566
Level 3 [Member] \| Warrants [Member]
Liabilities
Liabilities, fair value	$ 4,365

Fair Value Measurements (Roll F

Fair Value Measurements (Roll Forward of the Changes in Fair Value of Level 3 Financial Instruments) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Warrants [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities, Beginning Balance	$ 0
Liabilities, Ending Balance	4,365
Contingent Payment Warrant [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Additions during the period	3,820
Placement Agent Warrants [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Additions during the period	545
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	39,294
Investment, Ending Balance	$ 56,860

Licenses Acquired (Narrative) (

Licenses Acquired (Narrative) (Details) - USD ($) $ in Millions	Sep. 29, 2021	Jun. 29, 2021	Apr. 01, 2021	Sep. 30, 2021	Dec. 31, 2020
Journey [Member] \| Contingent Payment Warrant [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Warrants, fair value				$ 3.8	$ 0
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
Payments of milestones		2
Maintenance fees		24
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
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]
Payments of milestones	$ 8
Journey [Member] \| Licensing Agreements [Member] \| Minimum [Member] \| Dr. Reddy's Laboratories, Ltd [Member] \| Payable on Net Sales of the DFD-29 Product [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Sales royalties (as a percent)		10.00%
Journey [Member] \| Licensing Agreements [Member] \| Maximum [Member] \| Dr. Reddy's Laboratories, Ltd [Member] \| Payable on Net Sales of the DFD-29 Product [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Sales royalties (as a percent)		15.00%
Mustang [Member] \| Licensing Agreements [Member] \| Mayo Clinic [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Upfront fees payment			$ 0.8	$ 0.8

Licenses Acquired (Mustang - Na

Licenses Acquired (Mustang - Narrative) (Details) € in Millions

Sep. 08, 2021USD ($)

Apr. 01, 2021USD ($)Milestone

Aug. 23, 2019USD ($)Milestone

Jul. 03, 2017USD ($)Milestone

May 31, 2017USD ($)Milestone

Oct. 31, 2020USD ($)Milestone

Oct. 31, 2020EUR (€)Milestone

May 31, 2017USD ($)Milestone

Feb. 28, 2017USD ($)Milestone

Sep. 30, 2021USD ($)

Sep. 30, 2020USD ($)

Sep. 30, 2021USD ($)

Sep. 30, 2020USD ($)

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Research and development acquired

$ 27,367,000

$ 13,298,000

$ 70,226,000

$ 43,868,000

CSL Behring [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Payments of milestones

30,000

$ 200,000

30,000

200,000

Mayo Clinic [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Upfront fees payment

$ 800,000

800,000

Annual maintenance fee payable

$ 25,000

Mayo Clinic [Member] | Licensing Agreements [Member] | Achievement Of Eleven Development And Commercial Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 92,600,000

MB-102 (CD 123 CAR T for AML) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Payments of milestones

300,000

MB-102 (CD 123 CAR T for AML) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Achievement Of Eight Development Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 14,500,000

MB-102 (CD 123 CAR T for AML) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Upon the Twentyfourth Patient Treated In Phase1 Clinical Study [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Payments of milestones

300,000

MB-105 (PSCA CAR T) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Upfront fees payment

$ 300,000

Annual maintenance fee payable

$ 50,000

MB-105 (PSCA CAR T) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Achievement of Ten Development Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 14,900,000

MB-105 (PSCA CAR T) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Upon the Twelfth Patient Dosed in a Phase 1 Clinical Study [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Payments of milestones

300,000

MB-106 (CD20 CAR T) [Member] | Leiden University Medical Centre [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Upfront fees payment

$ 400,000

400,000

MB-106 (CD20 CAR T) [Member] | Leiden University Medical Centre [Member] | Licensing Agreements [Member] | Achievement Of Certain Development Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Milestone payable on collaborative agreements

$ 31,000,000

MB-106 Car T Therapy [Member] | Fred Hutchinson Cancer Research Center [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Upfront fees payment

$ 300,000

Payments of milestones

300,000

Annual maintenance fee payable

$ 50,000

MB-106 Car T Therapy [Member] | Fred Hutchinson Cancer Research Center [Member] | Licensing Agreements [Member] | Achievement Of Eleven Development Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 39,100,000

Mb107 and Mb207 (XSCID) [Member] | CSL Behring [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Upfront fees payment

$ 200,000

Mb107 and Mb207 (XSCID) [Member] | CSL Behring [Member] | Licensing Agreements [Member] | Achievement of Three Development And Commercial Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 1,200,000

MB-103 (HER2 CAR T) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Upfront fees payment

$ 600,000

Annual maintenance fee payable

$ 50,000

MB-103 (HER2 CAR T) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Achievement of Ten Development Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 14,900,000

MB-103 (HER2 CAR T) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Upon the Twelfth Patient Dosed in a Phase 1 Clinical Study [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Payments of milestones

300,000

MB-101 (IL13R2 CAR T for Glioblastoma) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Research and development acquired

300,000

MB-101 (IL13R2 CAR T for Glioblastoma) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Payments of milestones

$ 300,000

MB-101 (IL13R2 CAR T for Glioblastoma) [Member] | City of Hope (COH) [Member] | Licensing Agreements [Member] | Achievement Of Eight Development Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 14,500,000

MB-207 (LentiBOOST) [Member] | SIRION Biotech [Member] | Licensing Agreements [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Upfront fees payment

$ 100,000

€ 0.1

Research and development acquired

$ 100,000

MB-207 (LentiBOOST) [Member] | SIRION Biotech [Member] | Licensing Agreements [Member] | Achievement of Five Development Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Number of development milestones | Milestone

Milestone payable on collaborative agreements

$ 5,600,000

€ 4.7

MB-207 (LentiBOOST) [Member] | SIRION Biotech [Member] | Licensing Agreements [Member] | Achievement of Three Commercial Milestones [Member] | Mustang [Member]

Research and Development Arrangement, Contract to Perform for Others [Line Items]

Milestone payable on collaborative agreements

$ 4,100,000

€ 3.5

Number of commercial milestones | Milestone

Licenses Acquired (Schedule of

Licenses Acquired (Schedule of Research and Development for Licenses Acquired) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	$ 713	$ 458	$ 15,585	$ 2,278
Licensing Agreements [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	713	458	15,585	2,278
Licensing Agreements [Member] \| Journey [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	76		13,819
Licensing Agreements [Member] \| Mustang [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	630	287	1,630	1,837
Licensing Agreements [Member] \| Aevitas [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	7	162	34	162
Licensing Agreements [Member] \| Baergic [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired		8	0	8
Licensing Agreements [Member] \| Oncogenuity [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired		1	1	271
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-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
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
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	250		250
Licensing Agreements [Member] \| City of Hope (COH) [Member] \| Mustang [Member] \| Spacer [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired				333
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
Licensing Agreements [Member] \| Fred Hutchinson Cancer Research Center [Member] \| Mustang [Member] \| MB-106 (CD20 CAR T) [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired				300
Licensing Agreements [Member] \| Leiden University Medical Centre [Member] \| Mustang [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	350		350
Licensing Agreements [Member] \| CSL Behring [Member] \| Mustang [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired	$ 30	170	$ 30	170
Licensing Agreements [Member] \| SIRION Biotech [Member] \| Mustang [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development - licenses acquired		$ 117		$ 117

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Thousands	May 13, 2021	Sep. 30, 2021	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Purchase of intangible asset		$ 400	$ 1,000
Qbrexza [Member] \| Journey [Member] \| Dermira, Inc. a subsidiary of Eli Lilly [Member]
Finite-Lived Intangible Assets [Line Items]
Purchase of intangible asset	$ 12,500
Payments of milestones	$ 144,000
Percentage of royalty amounts diminution in the event of loss of exclusivity	50.00%
Allowance for sales returns	$ 1,400
Intangible assets, amortization period	7 years

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Total intangible assets - asset purchases	$ 19,003	$ 18,606
Accumulated amortization	(5,960)	(3,977)
Net intangible assets	$ 13,043	$ 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	9 Months Ended
	Sep. 30, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
Beginning balance	$ 14,629
Ending balance	13,043
Journey [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	14,629
Exelderm milestone	397
Amortization expense	(1,983)
Ending balance	$ 13,043

Intangibles (Schedule of Future

Intangibles (Schedule of Future Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Net intangible assets	$ 13,043	$ 14,629
Journey [Member]
Finite-Lived Intangible Assets [Line Items]
Three months ending December 31, 2021	491
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	9,101
Net intangible assets	13,043	$ 14,629
Journey [Member] \| Ximino [Member]
Finite-Lived Intangible Assets [Line Items]
Three months ending December 31, 2021	255
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	4,926
Net intangible assets	4,926
Journey [Member] \| Accutane [Member]
Finite-Lived Intangible Assets [Line Items]
Three months ending December 31, 2021	236
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	4,175
Net intangible assets	4,175
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 ($)	Oct. 12, 2021	Sep. 28, 2021	Aug. 27, 2020	Mar. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Aug. 29, 2020
Debt Instrument [Line Items]
Total notes payable					$ 53,019,000			$ 53,019,000		$ 51,677,000
Unamortized debt discount fees					7,431,000			7,431,000		$ 8,323,000
Debt instrument, interest expense					$ 3,724,000		$ 3,046,000	$ 7,770,000	$ 7,823,000
Debt instrument, stated interest rate					11.00%			11.00%
Debt issuance fees								$ 8,700,000
Fair Value Adjustment of Warrants					$ 2,000		803,000	184,000	1,189,000
Subsequent Events [Member]
Debt Instrument [Line Items]
Prepayment of debt owed to Dr. Rosenwald	$ 10,500,000
Prepayment due	$ 10,500,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense					14,000		14,000	37,000	45,000
IDB Note Payable [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense					0		77,000	0	246,000
Repayments of debt								0	14,858,000
2017 Subordinated Note Financing [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense					0		694,000	0	2,870,000
Repayments of debt								0	28,356,000
Payment of debt issuance fees								0	93,000
Oaktree Note [Member]
Debt Instrument [Line Items]
Debt instrument face amount			$ 60,000,000
Debt instrument, interest expense					2,136,000		624,000	5,455,000	624,000
Debt instrument, stated interest rate			11.00%
Debt prepayment penalties								450,000	0
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								95,000	4,239,000
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		895,000	0	1,585,000
Repayments of debt								0	15,750,000
2018 Venture Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest expense					0		$ 387,000	0	1,253,000
Repayments of debt								0	21,707,000
Payment of debt issuance fees								0	$ 58,000
Caelum [Member]
Debt Instrument [Line Items]
Debt prepayment penalties		$ 500,000			500,000
Prepayment amount on monetization		$ 10,000,000
Journey [Member] \| East West Bank ("EWB Loan") [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 7,500,000		$ 7,500,000
Payment of debt issuance fees								56,250
Legal fees								100,000
Debt Instrument, Description of Variable Rate Basis				Interest on the line is the greater of 4.25% or the Prime Rate plus 1%.
Basis spread on variable rate						4.25%
Line of Credit facility expiration period				36 months
Credit facility, amount outstanding					0			0
Deferred loan origination fees					$ 100,000			$ 100,000

Debt and Interest (Schedule of

Debt and Interest (Schedule of Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Aug. 27, 2020
Debt Instrument [Line Items]
Total notes payable, gross	$ 60,450	$ 60,000
Less: Discount of notes payable	(7,431)	(8,323)
Total notes payable	$ 53,019	$ 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 comp

Debt and Interest (Partner company installment payments) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	$ 5,000	$ 5,300
Less: imputed interest	(567)	(778)
Sub-total partner company installment payments - licenses, short-term	4,433	4,522
Partner company installment payments - licenses, long-term	4,000	9,000
Less: imputed interest	(461)	(863)
Sub-total partner company installment payments - licenses, long-term	3,539	8,137
Total partner company installment payments - licenses	7,972	12,659
Ximino [Member]
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	2,000	2,000
Less: imputed interest	(472)	(602)
Sub-total partner company installment payments - licenses, short-term	1,528	1,398
Partner company installment payments - licenses, long-term	3,000	5,000
Less: imputed interest	(428)	(775)
Sub-total partner company installment payments - licenses, long-term	2,572	4,225
Total partner company installment payments - licenses	$ 4,100	$ 5,623
Imputed interest rate	11.96%	11.96%
Accutane [Member]
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	$ 2,000	$ 500
Less: imputed interest	(84)	(122)
Sub-total partner company installment payments - licenses, short-term	1,916	378
Partner company installment payments - licenses, long-term	1,000	3,000
Less: imputed interest	(33)	(88)
Sub-total partner company installment payments - licenses, long-term	967	2,912
Total partner company installment payments - licenses	$ 2,883	$ 3,290
Imputed interest rate	4.03%	4.03%
Anti-itch Product [Member]
Debt Instrument [Line Items]
Partner company installment payments - licenses, short-term	$ 1,000	$ 2,800
Less: imputed interest	(11)	(54)
Sub-total partner company installment payments - licenses, short-term	989	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	$ 989	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Interest expense, interest	$ 3,724	$ 3,046	$ 7,770	$ 7,823
Amortization of fees	720	3,912	1,623	5,319
Interest expense, Total	4,444	6,958	9,393	13,142
Unamortized debt discount fees	7,431		7,431		$ 8,323
Letter of Credit [Member]
Debt Instrument [Line Items]
Interest expense, interest	14	14	37	45
Amortization of fees	0	0	0	0
Interest expense, Total	14	14	37	45
IDB Note Payable [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	77	0	246
Amortization of fees	0	0	0	0
Interest expense, Total	0	77	0	246
Repayments of Debt			0	14,858
2017 Subordinated Note Financing [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	694	0	2,870
Amortization of fees	0	1,374	0	1,890
Interest expense, Total	0	2,068	0	4,760
Repayments of Debt			0	28,356
Opus Credit Facility (2019 Notes) [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	172	0	710
Amortization of fees	0	0	0	0
Interest expense, Total	0	172	0	710
Repayments of Debt			0	9,000
2018 Venture Notes [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	387	0	1,253
Amortization of fees	0	638	0	1,000
Interest expense, Total	0	1,025	0	2,253
Repayments of Debt			0	21,707
Mustang Horizon Notes [Member]
Debt Instrument [Line Items]
Interest expense, interest	0	895	0	1,585
Amortization of fees	0	1,792	0	2,321
Interest expense, Total	0	2,687	0	3,906
Repayments of Debt			0	15,750
Oaktree Note [Member]
Debt Instrument [Line Items]
Interest expense, interest	2,136	624	5,455	624
Amortization of fees	342	108	975	108
Interest expense, Total	2,478	732	6,430	732
Debt prepayment penalties			450	0
Partner Company Dividend Payable [Member]
Debt Instrument [Line Items]
Interest expense, interest	365	0	628	0
Amortization of fees	0	0	0	0
Interest expense, Total	365	0	628	0
Partner Company Convertible Preferred Shares [Member]
Debt Instrument [Line Items]
Interest expense, interest	1,034	0	1,034
Amortization of fees	378	0	648	0
Interest expense, Total	1,412	0	1,682	0
NSC Note [Member]
Debt Instrument [Line Items]
Interest expense, interest	175	187	616	492
Amortization of fees	0	0	0	0
Interest expense, Total	175	187	616	492
Other Debt [Member]
Debt Instrument [Line Items]
Interest expense, interest	0		0
Amortization of fees	0	0	0	0
Interest expense, Total	$ 0		$ 0
Interest expense (income)		$ (4)		$ (2)

Journey 8% Cumulative Convert_2

Journey 8% Cumulative Convertible Class A Preferred Offering (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Class of Stock [Line Items]
Stock offering, aggregate fees paid					$ 85	$ 1,506
Unamortized debt discount fees		$ 7,431		$ 7,431	7,431		$ 8,323
Interest expense, interest		$ 3,724	$ 3,046		$ 7,770	$ 7,823
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member]
Class of Stock [Line Items]
Stock offering, number of shares issued				758,680
Stock offering, price per share		$ 25		$ 25	$ 25
Preferred Stock, dividend rate percentage					8.00%
Sale of stock, net proceeds				$ 17,000
Stock offering, gross proceeds				19,000
Stock offering, aggregate fees paid				1,900
Stock offering other fees paid				100
Percentage of common stock for which the Preferred A is exchanged	15.00%
Dividend payable	$ 400
Interest expense		$ 400			$ 600
Common stock's average 10-day trading price discount percentage	7.50%
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Placement Agent Warrants [Member]
Class of Stock [Line Items]
Contingent placement agent warrant		$ 400		$ 400	$ 400
Percentage of common stock for which the Preferred A is exchanged					5.00%
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Preferred Stock has not been Converted into Journey Common Stock [Member]
Class of Stock [Line Items]
Preferred stock offering, aggregate proceeds	$ 25,000
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Preferred Stock has not been Converted into Journey Common Stock [Member] \| Placement Agent Warrants [Member]
Class of Stock [Line Items]
Preferred stock offering, aggregate proceeds					$ 25,000
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Maximum [Member]
Class of Stock [Line Items]
Preferred stock offering, aggregate proceeds	30,000
8% Cumulative Convertible Class A Preferred Stock [Member] \| Journey [Member] \| Minimum [Member]
Class of Stock [Line Items]
Preferred stock offering, aggregate proceeds	$ 12,500

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Schedule of Accounts Payable and Accrued Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accrued expenses:
Accounts Payable	$ 42,707	$ 11,412
Professional fees	1,320	1,236
Salaries, bonus and related benefits	7,100	6,701
Research and development	6,541	5,007
Research and development - manufacturing		518
Research and development - license maintenance fees	645	461
Research and development - milestones	1,332	600
Accrued royalties payable	4,496	2,682
Accrued coupon expense	12,449	12,869
Income taxes payable		136
Return reserve	3,652	2,580
Other	2,613	1,187
Total accounts payable and accrued expenses	$ 82,855	$ 45,389

Non-Controlling Interests (Sche

Non-Controlling Interests (Schedule of Non-Controlling Interests in Consolidated Entities) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Noncontrolling Interest [Line Items]
NCI equity share	$ 182,990		$ 182,990		$ 153,120
Net loss attributable to non-controlling interests	(25,080)	$ (14,417)	(63,180)	$ (41,264)	(56,459)
Non-controlling interests in consolidated entities	119,810		119,810		96,661
FBIO Acquisition Corp VIII [Member]
Noncontrolling Interest [Line Items]
NCI equity share	(247)		(247)		(7)
Net loss attributable to non-controlling interests			(131)		(27)
Non-controlling interests in consolidated entities	$ (378)		$ (378)		$ (34)
Non-controlling ownership	32.00%		32.00%		10.00%
Aevitas [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (4,049)		$ (4,049)		$ (2,370)
Net loss attributable to non-controlling interests			(751)		(823)
Non-controlling interests in consolidated entities	$ (4,800)		$ (4,800)		$ (3,193)
Non-controlling ownership	45.90%		45.90%		39.00%
Avenue [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 2,058		$ 2,058		$ 5,800
Net loss attributable to non-controlling interests			(2,182)		(3,974)
Non-controlling interests in consolidated entities	$ (124)		$ (124)		$ 1,826
Non-controlling ownership	77.50%		77.50%		77.40%
Baergic [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (1,995)		$ (1,995)		$ (1,662)
Net loss attributable to non-controlling interests			(29)		(97)
Non-controlling interests in consolidated entities	$ (2,024)		$ (2,024)		$ (1,759)
Non-controlling ownership	39.50%		39.50%		39.50%
Cellvation [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (1,400)		$ (1,400)		$ (1,089)
Net loss attributable to non-controlling interests			(100)		(182)
Non-controlling interests in consolidated entities	$ (1,500)		$ (1,500)		$ (1,271)
Non-controlling ownership	22.10%		22.10%		22.10%
Checkpoint [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 59,574		$ 59,574		$ 41,704
Net loss attributable to non-controlling interests			(20,618)		(13,265)
Non-controlling interests in consolidated entities	$ 38,956		$ 38,956		$ 28,439
Non-controlling ownership	81.20%		81.20%		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	$ (1,276)		$ (1,276)		$ 567
Net loss attributable to non-controlling interests			(623)		(1,478)
Non-controlling interests in consolidated entities	$ (1,899)		$ (1,899)		$ (911)
Non-controlling ownership	29.80%		29.80%		30.50%
Helocyte [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (5,401)		$ (5,401)		$ (4,986)
Net loss attributable to non-controlling interests			(65)		(259)
Non-controlling interests in consolidated entities	$ (5,466)		$ (5,466)		$ (5,245)
Non-controlling ownership	18.30%		18.30%		18.80%
JMC [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 886		$ 886		$ 138
Net loss attributable to non-controlling interests			(2,339)		491
Non-controlling interests in consolidated entities	$ (1,453)		$ (1,453)		$ 629
Non-controlling ownership	7.20%		7.20%		7.10%
Mustang [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ 136,441		$ 136,441		$ 116,060
Net loss attributable to non-controlling interests			(35,787)		(36,429)
Non-controlling interests in consolidated entities	$ 100,654		$ 100,654		$ 79,631
Non-controlling ownership	82.40%		82.40%		80.90%
Oncogenuity [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (581)		$ (581)		$ (82)
Net loss attributable to non-controlling interests			(555)		(376)
Non-controlling interests in consolidated entities	$ (1,136)		$ (1,136)		$ (458)
Non-controlling ownership	24.90%		24.90%		25.30%
Tamid [Member]
Noncontrolling Interest [Line Items]
NCI equity share	$ (730)		$ (730)		$ (663)
Net loss attributable to non-controlling interests			0		(40)
Non-controlling interests in consolidated entities	$ (730)		$ (730)		$ (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	9 Months Ended
	Sep. 30, 2021	Sep. 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	21,954,883	18,954,457
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	4,535,804	3,026,693
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	836,732	1,187,600
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	16,372,752	14,305,949
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	209,595	434,215

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	Aug. 29, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Aug. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 4,326,000	$ 3,171,000	$ 12,449,000	$ 10,319,000
Stock options, unrecognized compensation expense		0		0
Oaktree Note [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						1,749,450
Exercise price of warrants	$ 3.20
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
Maximum [Member] \| Oaktree Note [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,749,450
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		1,100,000	700,000	3,100,000	2,500,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		3,200,000	2,500,000	9,400,000	7,800,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 31,000	38,000	$ 100,000	100,000
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
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		$ 21,100,000	17,500,000	$ 21,100,000	$ 17,500,000
Share-based compensation, period for recognition of expense				3 years 1 month 6 days	3 years 10 months 24 days
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 0	$ 32,000	$ 0	$ 97,000

Stockholders' Equity (Capital R

Stockholders' Equity (Capital Raises) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 23, 2021	Oct. 23, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, aggregate fees paid						$ 85	$ 1,506
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					758,680
Stock offering, price per share				$ 25	$ 25	$ 25
Stock offering, gross proceeds					$ 19,000
Stock offering, aggregate fees paid					1,900
Sale of stock, net proceeds					$ 17,000
Preferred Stock, dividend rate percentage						8.00%
At the Market Offering [Member] \| B. Riley, National Securities Corporation, LifeSci Capital LLC, Maxim Group LLC and Noble Capital Markets, Inc [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued						786,300	16,400,000
Stock offering, price per share			$ 2.74	3.60	$ 3.60	$ 3.60	$ 2.74
Stock offering, gross proceeds						$ 2,800	$ 44,800
Stock offering, aggregate fees paid						$ 100	$ 1,600
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						10,860,983	3,614,344
Stock offering, price per share			2.40	3.42	3.42	$ 3.42	$ 2.40
Stock offering, gross proceeds						$ 37,200	$ 8,700
Sale of stock, net proceeds						$ 36,300	$ 8,400
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						271,515	273,379
Stock offering, price per share			2.92	3.41	3.41	$ 3.41	$ 2.92
At the Market Offering [Member] \| Mustang [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares issuable for At-the-Market offering						52,019
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						17,300,000	7,200,000
Stock offering, price per share			3.56	$ 3.87	3.87	$ 3.87	$ 3.56
Stock offering, gross proceeds						$ 66,900	$ 25,600
Stock offering, aggregate fees paid						$ 1,300	$ 500
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				517,304			117,405
Stock offering, price per share			$ 3.56	$ 3.84	$ 3.84	$ 3.84	$ 3.56
Public Offering [Member] \| Checkpoint [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock offering, number of shares issued			7,321,429
Stock offering, price per share			$ 2.80				$ 2.80
Stock offering, gross proceeds			$ 20,500
Stock offering, aggregate fees paid			1,600
Sale of stock, net proceeds			$ 18,900
Shelf Registration Statement [Member] \| Checkpoint [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount available for future stock offerings				$ 58,700	$ 58,700	$ 58,700
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				$ 19,300	$ 19,300	$ 19,300

Stockholders' Equity (Stock-Bas

Stockholders' Equity (Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4,326	$ 3,171	$ 12,449	$ 10,319
Avenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	69	161	299	592
Checkpoint [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	779	725	2,319	2,095
Mustang [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	884	606	2,427	2,368
Other Partners [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	32	47	98	163
Employee Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,185	1,231	6,236	3,868
Executive Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	377	369	1,070	1,136
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 32	$ 0	$ 97

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Option Activities) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 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	(35,000)
Options vested and expected to vest, Number of shares	1,018,490	1,053,490
Options vested and exercisable, Number of shares	1,018,490
Options vested and expected to vest, Weighted average exercise price	$ 5.02
Weighted average exercise price, Forfeited	4.33
Options vested and expected to vest, Weighted average exercise price	5.04	$ 5.02
Options vested and exercisable, Weighted average exercise price	$ 5.04
Total weighted average intrinsic value, Options vested and expected to vest	$ 647,482
Total weighted average intrinsic value, Options vested and expected to vest	666,957	$ 647,482
Total weighted average intrinsic value, Options vested and exercisable	$ 666,957
Options vested and expected to vest, Weighted average contractual life	1 year 11 months 4 days	2 years 7 months 17 days
Options vested and exercisable, Weighted average remaining contractual life (years)	1 year 11 months 4 days

Stockholders' Equity (Restricte

Stockholders' Equity (Restricted Stock Awards and Restricted Stock Units) (Details) - $ / shares	9 Months Ended
	Sep. 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	18,077,755	15,507,504
Weighted average grant price, Unvested balance	$ 2.64	$ 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	(301,492)
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	1,130,842
Number of shares, Vested	(493,027)
Number of shares, Forfeited	(96,750)
Weighted average grant price, Granted	$ 4.13
Weighted average grant price, Vested	3.51
Weighted average exercise price, Forfeited	$ 3.49

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Warrant activities) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 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	$ 632,587	$ 607,848
Warrants expired, Weighted average intrinsic value	0
Warrants forfeited, Weighted average intrinsic value	0
Warrants exercisable, Weighted average intrinsic value	$ 475,087
Warrants, Weighted average remaining contractual life	4 years 2 months 8 days	4 years 10 months 6 days
Warrants exercisable, Weighted average remaining contractual life	4 years 1 month 9 days

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) $ in Millions	Sep. 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 ($)	3 Months Ended		9 Months Ended
Related Party Transactions (Narrative) (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Nov. 12, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Revenue from TGTX	$ 29,000	$ 28,000	$ 252,000	$ 1,042,000
Journey [Member]
Related Party Transaction [Line Items]
Contribution via promissory note						$ 5,200,000
Promissory Note [Member] \| Journey [Member]
Related Party Transaction [Line Items]
Increase in promissory note, related party			$ 9,500,000
Chief Executive Officer (Dr. Rosenwald) [Member]
Related Party Transaction [Line Items]
Interest own in percent by principal stockholder or director	10.60%		10.60%
Executive Vice Chairman [Member]
Related Party Transaction [Line Items]
Interest own in percent by principal stockholder or director	11.40%		11.40%
TGTX [Member]
Related Party Transaction [Line Items]
Related party transaction, receivables	$ 69,000		$ 69,000
Shared Services Agreement [Member] \| TGTX [Member]
Related Party Transaction [Line Items]
Revenue from TGTX	100,000	100,000	300,000	300,000
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	21,000	29,000	21,000	$ 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	100,000		100,000
Amount payable to Avenue key employees	$ 2,900,000		$ 2,900,000
Subsequent Events [Member] \| Shared Services Agreement [Member] \| Journey [Member]
Related Party Transaction [Line Items]
Related party transaction, receivables					$ 400,000

Related Party Transactions (PIK

Related Party Transactions (PIK Dividend or Equity Fee Payable) (Details)	Feb. 08, 2019	Sep. 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%
Caelum [Member]
Related Party Transaction [Line Items]
Effective date		Jan. 1, 2017
PIK dividend as a percentage of fully diluted outstanding capitalization		0.00%
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)	9 Months Ended
	Sep. 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)	9 Months Ended
Segment Information (Narrative) (Details)	Sep. 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net Revenue	$ 21,085	$ 9,475	$ 50,515	$ 31,850
Direct cost of goods	(11,167)	(3,379)	(22,559)	(10,313)
Research and development	(28,080)	(13,756)	(85,811)	(46,146)
General and administrative	(22,221)	(15,383)	(59,145)	(45,358)
Wire transfer fraud loss	(9,540)	0	(9,540)	0
Other expense	4,062	(6,921)	30,222	(12,528)
Net loss	(45,861)	(29,964)	(96,318)	(82,495)
Dermatology Products Sales [Member]
Segment Reporting Information [Line Items]
Net Revenue	19,610	9,447	45,617	30,808
Direct cost of goods	(11,167)	(3,379)	(22,559)	(10,313)
Research and development	(794)	0	(14,566)	0
General and administrative	(10,755)	(5,829)	(24,776)	(16,284)
Wire transfer fraud loss	(9,540)		(9,540)
Other expense	(1,375)	(187)	(3,120)	(492)
Net loss	(14,021)	52	(28,944)	3,719
Pharmaceutical and Biotechnology Product Development [Member]
Segment Reporting Information [Line Items]
Net Revenue	1,475	28	4,898	1,042
Direct cost of goods	0	0	0	0
Research and development	(27,286)	(13,756)	(71,245)	(46,146)
General and administrative	(11,466)	(9,554)	(34,369)	(29,074)
Wire transfer fraud loss	0		0
Other expense	5,437	(6,734)	33,342	(12,036)
Net loss	$ (31,841)	$ (30,016)	$ (67,374)	$ (86,214)

Segment Information (Total asse

Segment Information (Total assets by reportable segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Intangible asset, net	$ 13,043		$ 13,043		$ 14,629
Tangible assets	394,790		394,790		318,784
Total assets	407,833		407,833		333,413
Sales and marketing expense	9,200	$ 4,600	20,800	$ 12,700
Dermatology Products Sales [Member]
Segment Reporting Information [Line Items]
Intangible asset, net	13,043		13,043		14,629
Tangible assets	67,597		67,597		35,422
Total assets	80,640		80,640		50,051
Pharmaceutical and Biotechnology Product Development [Member]
Segment Reporting Information [Line Items]
Intangible asset, net	0		0		0
Tangible assets	327,193		327,193		283,362
Total assets	$ 327,193		$ 327,193		$ 283,362

Revenues from Contracts and S_3

Revenues from Contracts and Significant Customers (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)product	Sep. 30, 2020USD ($)	Dec. 31, 2020customer
Disaggregation of Revenue [Line Items]
Number of marketed products \| product			7
Revenue from Contract with Customer, Including Assessed Tax \| $	$ 19,610	$ 9,447	$ 45,617	$ 30,808
Dermatology Products Sales [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Disaggregation of Revenue [Line Items]
Number of customers \| customer					1
Dermatology Products Sales [Member] \| One Customer [Member] \| Customer Concentration Risk [Member] \| Revenue [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	10.10%
Dermatology Products Sales [Member] \| Customer one [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			20.70%		14.50%
Dermatology Products Sales [Member] \| Customer Two [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage			14.90%

Revenues from Contracts and S_4

Revenues from Contracts and Significant Customers (Company's product revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues from Contracts and Significant Customers
Product revenue, net	$ 19,610	$ 9,447	$ 45,617	$ 30,808
Collaboration revenue	1,446	0	4,646	0
Revenue - related party	29	28	252	1,042
Net revenue	$ 21,085	$ 9,475	$ 50,515	$ 31,850

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	9 Months Ended
Income Taxes (Narrative) (Details) $ in Millions	Sep. 30, 2021USD ($)
Income Tax Disclosure [Line Items]
Minimum ownership interest in subsidiaries for consolidated income tax return	80.00%
Scenario, Forecast [Member]
Income Tax Disclosure [Line Items]
Income tax expense (benefit)	$ 0

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 16, 2021	Nov. 12, 2021	Oct. 05, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Subsequent Event [Line Items]
Stock offering, aggregate fees paid					$ 85	$ 1,506
Caelum [Member]
Subsequent Event [Line Items]
Fair value of investment				$ 17,600	17,600		$ 17,600
Increase in fair value of investments					$ 39,294
Avenue [Member] \| IPO [Member] \| Scenario, Plan [Member]
Subsequent Event [Line Items]
Stock offering, number of shares issued	3,520,000
Stock offering, price per share	$ 10
Sale of stock, net proceeds	$ 31,400
Avenue [Member] \| Over-Allotment Option [Member] \| Scenario, Plan [Member]
Subsequent Event [Line Items]
Stock offering, number of shares issued	528,000
AstraZeneca [Member] \| Caelum [Member]
Subsequent Event [Line Items]
Percentage of escrow holdback					10.00%
Fair value of investment				56,900	$ 56,900
Increase in fair value of investments				$ 8,400	$ 39,300
Subsequent Events [Member] \| Journey [Member] \| IPO [Member]
Subsequent Event [Line Items]
Stock offering, price per share	$ 10
Subsequent Events [Member] \| Avenue [Member] \| Over-Allotment Option [Member]
Subsequent Event [Line Items]
Stock offering, gross proceeds		$ 3,000
Subsequent Events [Member] \| Avenue [Member] \| Public Offering [Member]
Subsequent Event [Line Items]
Stock offering, number of shares issued		1,946,787
Stock offering, gross proceeds		$ 2,600
Stock offering, price per share		$ 1.34
Option to purchase additional number of shares, percentage of total shares		15.00%
Subsequent Events [Member] \| AstraZeneca [Member] \| Caelum [Member]
Subsequent Event [Line Items]
Percentage of proceeds from option exercise			42.40%
Option exercise price			$ 150,000
Proceeds from option exercise			$ 56,900
Percentage of escrow holdback			10.00%

Sponsored Research and Clinical Trial Agreements	9 Months Ended
Sponsored Research and Clinical Trial Agreements	Sep. 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 nine months ended September 30, 2021 and 2020, Aevitas recorded the following expense in connection with its sponsored research and clinical trial agreements: For the Three Months Ended September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 UMass SRA $ 17 163 $ 289 $ 218 UPenn SRA — — — 567 Total $ 17 $ 163 $ 289 $ 785 Mustang For the three and nine months ended September 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 September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center $ — $ — $ — $ 500 IL13Rα2 (MB-101) 199 96 992 422 CD123 (MB-102) 24 48 250 344 CS1 (MB-104) 138 65 510 835 HER2 (MB-103) 319 — 473 — PSCA (MB-105) 23 — 69 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) 492 418 1,490 1,134 St. Jude Children's Research Hospital - XSCID (MB-107) 330 107 610 1,665 Mayo Clinic 231 — 464 — Total $ 1,756 $ 734 $ 4,858 $ 4,900 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 nine months ended September 30, 2021 and 2020, Mustang recorded expense of nil and $0.5 million, respectively, in research and development expense in the Company’s unaudited 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 March 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 September 30, 2021 and 2020, Mustang recorded $0.2 million and $0.1 million, respectively, pursuant to the terms of these agreements. For the nine months ended September 30, 2021 and 2020, Mustang recorded $1.0 million and $0.4 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 September 30, 2021 and 2020, Mustang recorded $24,000 and $48,000, respectively, pursuant to the terms of this agreement. For the nine months ended September 30, 2021 and 2020, Mustang recorded $0.3 million and $0.3 million, respectively, pursuant to the terms of this agreement. CS1 (MB-104) Clinical Research and Support Agreement 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 September 30, 2021 and 2020, Mustang recorded $0.1 million and $0.1 million, respectively, pursuant to the terms of this agreement. For the nine months ended September 30, 2021 and 2020, Mustang recorded $0.5 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 nine months ended September 30, 2021, Mustang recorded $0.3 million and $0.5 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 three months ended September 30, 2021 and 2020, Mustang recorded approximately $23,000 and nil, respectively, pursuant to the terms of this agreement. For the nine months ended September 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 September 30, 2021 and 2020, Mustang recorded $0.5 million and $0.4 million, respectively, pursuant to the terms of this agreement. For the nine months ended September 30, 2021 and 2020, Mustang recorded $1.5 million and $1.1 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 September 30, 2021 and 2020, Mustang recorded $0.3 million and $0.1 million, respectively, pursuant to the terms of this agreement. For the nine months ended September 30, 2021 and 2020, Mustang recorded $0.6 million and $1.7 million, respectively, pursuant to the terms of this agreement. Sponsored Research Support Agreement with Mayo Clinic In June 2021, Mustang entered into an SRA with the Mayo Clinic in which Mustang will fund research in the amount of $2.1 million over a period of two years. The research performed pursuant to this agreement will support technology Mustang has licensed from Mayo Clinic for a novel technology that may be able to transform the administration of CAR T therapies and has the potential to be used as an off-the-shelf therapy. For the three and nine months ended September 30, 2021, Mustang recorded $0.2 million and $0.5 million, respectively, in research and development expenses pursuant to the terms of this agreement. Oncogenuity For the Three Months Ended September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 Columbia $ 187 $ 125 $ 562 $ 250 Oxford 91 — 265 — McCormick Labs 56 — 178 — Total $ 334 $ 125 $ 1,005 $ 250 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 September 30, 2021 and 2020, Oncogenuity recorded expense of $0.2 million and $0.1 million, respectively; and $0.6 million and $0.3 million, respectively, for the nine months ended September 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 nine months ended September 30, 2021, Oncogenuity recorded expense of $0.1 million and $0.3 million, respectively, in research and development in the Company’s unaudited 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 nine months ended September 30, 2021Oncogenuity recorded expense of $0.1 million and $0.2 million, respectively, in research and development in the Company’s unaudited condensed consolidated statement of operations. No expense was recorded in 2020.

Sponsored Research and Clinical Trial Agreements (Tables)	9 Months Ended
Sponsored Research and Clinical Trial Agreements (Tables)	Sep. 30, 2021
Aevitas [Member]
Schedule of Research and Development for Sponsored Research and Clinical Trial Agreements	For the three and nine months ended September 30, 2021 and 2020, Aevitas recorded the following expense in connection with its sponsored research and clinical trial agreements: For the Three Months Ended September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 UMass SRA $ 17 163 $ 289 $ 218 UPenn SRA — — — 567 Total $ 17 $ 163 $ 289 $ 785
Mustang [Member]
Schedule of Research and Development for Sponsored Research and Clinical Trial Agreements	For the three and nine months ended September 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 September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 City of Hope National Medical Center $ — $ — $ — $ 500 IL13Rα2 (MB-101) 199 96 992 422 CD123 (MB-102) 24 48 250 344 CS1 (MB-104) 138 65 510 835 HER2 (MB-103) 319 — 473 — PSCA (MB-105) 23 — 69 — Fred Hutchinson Cancer Research Center - CD20 (MB-106) 492 418 1,490 1,134 St. Jude Children's Research Hospital - XSCID (MB-107) 330 107 610 1,665 Mayo Clinic 231 — 464 — Total $ 1,756 $ 734 $ 4,858 $ 4,900
Oncogenuity [Member]
Schedule of Research and Development for Sponsored Research and Clinical Trial Agreements	Oncogenuity For the Three Months Ended September 30, For the Nine Months Ended September 30, ($ in thousands) 2021 2020 2021 2020 Columbia $ 187 $ 125 $ 562 $ 250 Oxford 91 — 265 — McCormick Labs 56 — 178 — Total $ 334 $ 125 $ 1,005 $ 250

Fortress Biotech (FBIO) 10-Q15 Nov 212021 Q3 Quarterly reportFinancial data

Document and Entity Information

Condensed Consolidated Balance

Condensed Consolidated Balanc_2

Condensed Consolidated Statemen

Condensed Consolidated Statem_2

Condensed Consolidated Statem_3

Organization and Description of

Summary of Significant Accounti

Collaboration and Stock Purchas

Inventory

Property and Equipment

Fair Value Measurements

Licenses Acquired

Sponsored Research and Clinical

Intangibles, net

Debt and Interest

Journey 8% Cumulative Convertib

Accounts Payable and Accrued Ex

Non-Controlling Interests

Net Loss per Common Share

Stockholders' Equity

Commitments and Contingencies

Related Party Transactions

Segment Information

Revenues from Contracts and Sig

Income taxes

Subsequent Events

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

Organization and Description _2

Summary of Significant Accoun_4

Summary of Significant Accoun_5

Collaboration and Stock Purch_2

Inventory (Narrative) (Details)

Inventory (Schedule of Inventor

Property and Equipment (Narrati

Property and Equipment (Schedul

Fair Value Measurements (Narrat

Fair Value Measurements (Weight

Fair Value Measurements (Schedu

Fair Value Measurements (Roll F

Licenses Acquired (Narrative) (

Licenses Acquired (Mustang - Na

Licenses Acquired (Schedule of

Sponsored Research and Clinic_3

Sponsored Research and Clinic_4

Intangibles (Narrative) (Detail

Intangibles (Schedule of Intang

Intangibles (Schedule of JMC Re

Intangibles (Schedule of Future

Debt and Interest (Narrative) (

Debt and Interest (Schedule of

Debt and Interest (Partner comp

Debt and Interest (Interest Exp

Journey 8% Cumulative Convert_2

Accounts Payable and Accrued _3

Non-Controlling Interests (Sche

Net Loss per Common Share (Sche

Stockholders' Equity (Narrative

Stockholders' Equity (Capital R

Stockholders' Equity (Stock-Bas

Stockholders' Equity (Stock Opt

Stockholders' Equity (Restricte

Stockholders' Equity (Schedule

Commitments and Contingencies (