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. operates a biopharmaceutical business built around acquiring and advancing pharmaceutical and biotechnology assets. Company updates commonly cover product revenue, equity holdings, dividend and royalty income, FDA decisions, subsidiary transactions and clinical or regulatory progress across its portfolio.
Recurring news also includes Journey Medical dermatology products, Cyprium Therapeutics and ZYCUBO® for Menkes disease, priority review voucher monetization and corporate financial results. Fortress reports material developments involving approved prescription products, portfolio-company ownership, royalties, capital resources and business-development activity.
Journey Medical Corporation (NASDAQ: DERM) reported record revenue of $23.3 million for Q1 2022, a 117% increase compared to Q1 2021. Net product sales reached $20.8 million, up 94% year-over-year. The company initiated a pivotal Phase 3 clinical trial for DFD-29 targeting papulopustular rosacea and expects NDA filing in H2 2023. Although DERM reported a net loss of $1.4 million, its Adjusted EBITDA improved to $2.3 million. Journey Medical aims to launch another prescription product in H2 2022, underlining its growth strategy.
Journey Medical Corporation (NASDAQ: DERM) will release its Q1 2022 financial results on May 10, 2022, post-market. A conference call is scheduled for that day at 4:30 p.m. ET. Interested parties can join via dial-in or a live audio webcast, with replays available for 30 days. Journey Medical focuses on dermatological products and currently markets nine such products. The company, founded by Fortress Biotech (NASDAQ: FBIO), aims to commercialize innovative solutions in dermatology.
Fortress Biotech (NASDAQ: FBIO) announced that Lindsay A. Rosenwald, M.D., will present a corporate update at the 21st 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.