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) 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.
Journey Medical Corporation (NASDAQ: DERM) announced its participation in the 34th Annual ROTH Conference from March 13-15, 2022. CEO Claude Maraoui will present a corporate overview on March 14 at 12:00 p.m. PT, with one-on-one meetings available throughout the event. A webcast of the presentation will be accessible on Journey Medical's website for about 30 days post-conference. Journey Medical focuses on developing dermatological products, currently marketing nine solutions aimed at treating common skin conditions.
Fortress Biotech (NASDAQ: FBIO) announced a virtual summit hosted by B. Riley Securities on April 5-6, 2022, showcasing its diverse pipeline. The event aims to highlight various programs within Fortress' portfolio of over 30 development-stage projects across multiple therapeutic areas, including oncology and rare diseases. Registration details will be available shortly before the summit, and the webcasts will be accessible on Fortress' investor webpage for 30 days post-event.
Journey Medical Corporation (NASDAQ: DERM) announced that its licensing partner, Maruho Co., Ltd., received approval from Japan's Ministry of Health for Rapifort® Wipes 2.5%, used for treating primary axillary hyperhidrosis. This milestone triggers a $10 million payment, with Journey receiving $2.5 million. The approval expands Journey's revenue beyond U.S. sales. Rapifort® Wipes is a derivative of QBREXZA, which is FDA-approved for similar use in the U.S. and recognized by the International Hyperhidrosis Society as a first-line treatment.
Fortress Biotech, Inc. (NASDAQ: FBIO) will present a corporate update at the 2nd Annual Winter Wonderland Best Ideas Virtual Investor Conference on February 9, 2022, at 9:30 a.m. ET. Lindsay A. Rosenwald, M.D., the Chairman, President, and CEO, will also engage in one-on-one meetings during the conference. A live webcast of the presentation will be available on Fortress's website for approximately 30 days post-event. Fortress Biotech focuses on acquiring, developing, and commercializing pharmaceutical products, with a diverse pipeline that includes over 30 development programs in areas like oncology and gene therapy.
Journey Medical (NASDAQ: DERM) has announced the acquisition of VYNE Therapeutics' Molecule Stabilizing Technology franchise for $20 million upfront, plus an additional $5 million after one year, with further milestone payments of up to $450 million based on net sales achievements. This acquisition includes the FDA-approved products AMZEEQ® for acne and ZILXI® for rosacea, and expands Journey Medical's dermatology portfolio to nine products. Additionally, the company increased its credit agreement with East West Bank to $30 million to support growth.