Welcome to our dedicated page for Fortress Biotech news (Ticker: FBIO), a resource for investors and traders seeking the latest updates and insights on Fortress Biotech stock.
Fortress Biotech Inc (FBIO) delivers innovative biopharmaceutical solutions through strategic acquisitions and subsidiary-driven development. This news hub provides investors and industry observers with centralized access to verified corporate updates across all therapeutic focus areas.
Track the latest press releases, regulatory milestones, and partnership announcements from Fortress Biotech and its network of specialized subsidiaries. Our curated feed includes updates on dermatology advancements, oncology research breakthroughs, and rare disease therapeutic developments. Stay informed about licensing agreements, clinical trial progress, and product commercialization efforts.
This resource serves as your primary source for FDA submissions, earnings reports, and strategic collaborations shaping FBIO's diversified pipeline. Bookmark this page for real-time updates on drug development progress and corporate initiatives that drive value across Fortress Biotech's unique operational ecosystem.
Fortress Biotech subsidiary, Aevitas Therapeutics, has entered into an asset purchase agreement with 4D Molecular Therapeutics (4DMT) for Aevitas' short-form human complement factor H (sCFH) asset, targeting complement-mediated diseases. The agreement could yield up to $140 million in milestone payments and royalties for Aevitas. 4DMT plans to develop product candidate 4D-175 to treat Geographic Atrophy (GA) linked to age-related macular degeneration (AMD). This innovative therapy combines Aevitas' sCFH with 4DMT's proprietary vector, enhancing treatment efficacy. Fortress' CEO, Lindsay A. Rosenwald, emphasized the partnership’s potential to generate shareholder value by expediting the development of this promising therapy. The technology aims to restore normal complement regulation and reduce retinal injury.
Fortress Biotech, Inc. (Nasdaq: FBIO) reported consolidated net revenues of $75.7 million for the full-year 2022, a significant growth from $68.8 million in 2021. The company is gearing up to file three new drug applications in 2023, including the Biologics License Application for cosibelimab for cSCC and NDA submissions for CUTX-101 and DFD-29. Cosibelimab's FDA filing was accepted with a PDUFA date set for January 3, 2024. The company aims to enhance its clinical pipeline and diversify with new acquisitions while maintaining a strong growth trajectory amidst escalating R&D expenditures.
Journey Medical Corporation (Nasdaq: DERM) reported total revenues of $73.7 million for the full year 2022, reflecting a 17% increase from 2021. The company experienced a 9% decline in Q4 revenue, primarily due to generic competition affecting Targadox. Despite this, SG&A expenses increased due to expanded sales efforts, reaching $59.5 million. The net loss decreased to $29.6 million, or $1.69 per share from $44.0 million in 2021. Journey Medical completed enrollment for its Phase 3 clinical trials for DFD-29 in January 2023, with topline data expected soon. The company plans to file a New Drug Application in the second half of 2023.
Journey Medical Corporation (Nasdaq: DERM) has announced plans to release its year-end 2022 financial results on March 29, 2023, after U.S. market close. The Company will host a conference call at 4:30 p.m. ET to discuss the results and provide a corporate update. Interested parties can join the call by dialing 1-866-777-2509 (U.S.) or 1-412-317-5413 (international) approximately 10 minutes prior to start time. A live audio webcast and replays will be available on the Company’s website. Journey Medical focuses on dermatological pharmaceutical products and is based in Scottsdale, Arizona.
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