Fortress Biotech Inc Stock Price, News & Analysis

Fortress Biotech (NASDAQ: FBIO) announced that Lindsay A. Rosenwald, M.D., will present a corporate update at the 21^st Annual Needham Virtual Healthcare Conference on April 12, 2022, at 1:30 p.m. ET. The presentation will include insights on the company's innovative approach to acquiring and commercializing therapeutic products.

Investors can access a live webcast of the presentation on Fortress' website. Fortress Biotech focuses on developing and commercializing high-potential pharmaceuticals across oncology, rare diseases, and gene therapy.

Journey Medical Corporation (NASDAQ: DERM) announced participation in the Fortress Biotech Virtual R&D Summit on April 5-6, 2022. The management team will present a corporate overview and engage in a panel discussion on April 5 at 1:30 p.m. ET. The event, hosted by the B. Riley Securities’ Healthcare Equity Research team, will showcase Fortress’ diverse pipeline. A webcast of the presentation will be available on Journey Medical's website for 30 days post-event. Journey Medical focuses on innovative dermatology products and has nine marketed treatments for skin conditions.

Fortress Biotech, Inc. (NASDAQ: FBIO) announced a two-day virtual summit hosted by B. Riley Securities, scheduled for April 5 and 6, 2022, starting at 1:00 p.m. ET. The summit will feature discussions on Fortress' diverse pipeline, including presentations from its subsidiaries and partners. Key topics include the company’s strategic initiatives and execution for value generation. Registration is available online, and webcasts will be accessible post-event for approximately 30 days. Fortress has a robust pipeline with over 30 development programs aimed at significant market areas.

Fortress Biotech reported record net revenue of $68.8 million for 2021, a 50% increase from 2020, driven by strong demand for its dermatology products. The company also realized $56.9 million from its investment in Caelum Biosciences. Despite the strong revenue growth, Fortress faced a net loss of $64.7 million (or $(0.79) per share). Non-GAAP income for common stockholders improved to $25.5 million or $0.25 per share. Looking forward, significant milestones are anticipated with upcoming NDA submissions for CUTX-101 and cosibelimab.

Journey Medical Corporation (NASDAQ: DERM) announced its financial results for the full year 2021, reporting a record net product revenue of $63.1 million, a 42% increase from 2020. The company also successfully completed its IPO, raising $30.6 million. DERM initiated a pivotal Phase 3 clinical program for DFD-29 aimed at treating papulopustular rosacea. Despite these advancements, the company reported a net loss of $44 million for the year, largely attributed to R&D expenses and cybersecurity losses.

Cyprium Therapeutics, a subsidiary of Fortress Biotech (FBIO), is progressing with CUTX-101 for Menkes disease, aiming for the first FDA approval. Positive data will be presented at the ACMG Annual Clinical Genetics Meeting. The rolling submission of the New Drug Application (NDA) is expected to complete mid-2022. CUTX-101 has shown efficacy in pivotal studies, significantly improving survival rates for early-treated patients. The partnership with Sentynl Therapeutics focuses on market introduction and newborn screening initiatives. Menkes disease, caused by ATP7A mutations, has a high mortality rate in untreated cases.

Journey Medical Corporation (NASDAQ: DERM) plans to release its year-end 2021 financial results on March 23, 2022, following the U.S. market close. A conference call to discuss these results will take place on the same day at 4:30 p.m. ET. Interested individuals can participate by dialing the provided numbers or joining the live audio webcast available on the company’s website. Journey Medical focuses on the development and commercialization of dermatological products and has nine products currently in the market.

Journey Medical Corporation announced the initiation of a Phase 3 clinical trial for DFD-29 (Minocycline Modified Release Capsules) to treat papulopustular rosacea. This follows promising Phase 2 data showing DFD-29 had approximately double the efficacy of Doxycycline capsules in reducing inflammatory lesions. The trial includes two multicenter, randomized studies, each enrolling up to 320 adult patients. The primary objective is to evaluate DFD-29's safety and effectiveness compared to placebo and Doxycycline over 16 weeks. Claimed benefits could significantly enhance treatment options for the estimated 415 million global rosacea sufferers.

Fortress Biotech (NASDAQ: FBIO) announced that its Chairman and CEO, Lindsay A. Rosenwald, M.D., will participate in three key investor conferences in March 2022. These conferences include:

• 34th Annual ROTH Conference: Fireside chat on March 14, 2022, at 3:00 p.m. PT.
• Oppenheimer’s 32nd Annual Virtual Healthcare Conference: Presentation on March 16, 2022, at 8:40 a.m. ET.
• Cantor Fitzgerald’s Rare Orphan Disease Summit: Panel on March 30, 2022, at 8:30 a.m. ET.

Webcasts of the sessions will be available on Fortress Biotech's website for approximately 30 days.