Fortress Biotech Inc Stock Price, News & Analysis

Urica Therapeutics, a subsidiary of Fortress Biotech (Nasdaq: FBIO), has expanded its exclusive license agreement with Fuji Yakuhin Co. Ltd. to develop dotinurad for gout treatment in the Middle East and North Africa (MENA) and Turkey. This follows a prior agreement covering the US, UK, EU, and Canada. Dotinurad, which is in Phase 1 trials in the US and launched in Japan in 2020, is designed to inhibit uric acid reabsorption and has been well-tolerated in clinical studies. Urica aims to expedite regulatory approvals for dotinurad in the new territories.

Fortress Biotech (Nasdaq: FBIO) will participate in one-on-one meetings at the Cantor Medical & Aesthetic Dermatology, Ophthalmology & MedTech/Diagnostic Conference on December 8, 2022, in Miami, FL. Fortress is focused on acquiring and developing high-potential biopharmaceuticals, boasting eight marketed products and over 30 in development. The company collaborates with leading institutions like AstraZeneca and St. Jude Children’s Research Hospital to maximize opportunities in oncology, rare diseases, and gene therapy, driving growth and shareholder value.

Journey Medical Corporation (Nasdaq: DERM) announced its management team will present at the Cantor Medical & Aesthetic Dermatology Conference on December 8, 2022, in Miami, FL. CEO Claude Maraoui will participate in a panel titled, “Is Derm Defensive?: Commercial Successes, Current & Upcoming Launches,” at 9:00 a.m. ET. Journey Medical focuses on dermatological products and currently markets eight treatments for skin conditions. The Company was founded by Fortress Biotech (Nasdaq: FBIO) and files periodic reports with the SEC.

Fortress Biotech reported a 17.5% increase in net revenue to $59.3 million for the nine months ending September 30, 2022, compared to the previous year. The company anticipates a BLA submission for cosibelimab by January 2023. Recent highlights include advances in 20 clinical-stage programs and significant data from MB-106 trials, showing high response rates in hematologic malignancies. However, the company faced a net loss of $(22.5) million for Q3 2022, with cash reserves decreasing to $210.6 million.

Journey Medical reported a 26% revenue increase to $57.7 million for the first nine months of 2022, despite third-quarter sales declining to $16.1 million, affected by Targadox generic competition. The company has achieved 75% enrollment in its DFD-29 Phase 3 trials for treating papulopustular rosacea, with top-line data expected in H1 2023. Journey Medical anticipates submitting a New Drug Application in H2 2023, predicting DFD-29 could generate over $100 million in peak annual sales. Cash reserves totaled $34.9 million as of September 30, 2022.

Journey Medical Corporation (Nasdaq: DERM) announced it will release its third quarter 2022 financial results on November 10, 2022, after market close. A conference call to discuss these results will take place at 4:30 p.m. ET the same day. Interested parties can participate by calling specific numbers provided in the announcement. Journey Medical, based in Scottsdale, Arizona, develops and commercializes innovative dermatological products, having successfully marketed eight treatment products to date.

Fortress Biotech, Inc. (Nasdaq: FBIO) has declared a monthly dividend of $0.1953125 per share for its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock for October, November, and December 2022. The dividends will be paid on October 31, November 30, and December 31, 2022, to shareholders on record as of October 15, November 15, and December 15, respectively. Future dividend notifications will be available on Fortress's website. Fortress focuses on developing and commercializing biopharmaceutical products across various therapeutic areas.

Journey Medical Corporation (Nasdaq: DERM) announced CEO Claude Maraoui's participation in two upcoming investor conferences. The first is the Roth Inaugural Healthcare Opportunities Conference on October 6, 2022, at 12:15 p.m. ET in New York City, which includes one-on-one meetings. The second is the LD Micro Main Event XV Conference on October 25, 2022, at 3:00 p.m. PT in Los Angeles, also with one-on-one meetings. Journey Medical focuses on dermatological products and markets nine branded and three authorized generic products.

Urica Therapeutics, a subsidiary of Fortress Biotech (FBIO), has appointed Jay D. Kranzler, M.D., Ph.D., as Chairman and CEO, and Vibeke Strand, M.D., to its Board. Dr. Kranzler brings over 30 years of drug development experience, particularly with the lead candidate dotinurad, currently in Phase 1 trials for gout in the U.S. Dotinurad, approved in Japan, is a urate transporter inhibitor showing promise in clinical trials. The company anticipates topline data from its Phase 1 trial later in 2022, aiming to expand treatment options for millions of U.S. gout patients.