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. (Nasdaq: FBIO) is a biopharmaceutical company that regularly issues news about its portfolio of prescription pharmaceutical products and development programs. Its press releases cover updates from Fortress itself and from majority-owned and partner companies that it has founded or supports, providing investors with a consolidated view of activity across oncology, dermatology and rare disease assets.
Recent announcements highlight regulatory milestones, clinical progress and transaction-driven events. Fortress and its majority-owned subsidiary Cyprium Therapeutics have reported U.S. Food and Drug Administration (FDA) approval of ZYCUBO (copper histidinate, formerly CUTX-101) for the treatment of Menkes disease in pediatric patients, noting that it is the first and only FDA-approved treatment for Menkes disease in the United States. Earlier updates described FDA acceptance of the resubmission of the New Drug Application for CUTX-101 and the transfer of development and commercialization responsibilities to Sentynl Therapeutics, with Cyprium eligible for royalties and milestone payments.
News related to Journey Medical Corporation, which was founded by Fortress, includes financial results driven by net revenues from dermatology products and the commercial launch of Emrosi (DFD-29) for inflammatory lesions of rosacea in adults. Releases also present clinical data, such as pooled Phase 3 analyses demonstrating Emrosi’s efficacy versus comparators, and discuss payer access and prescription trends.
Additional Fortress news items describe monetization events and pipeline updates, such as the acquisition of Checkpoint Therapeutics by Sun Pharma, the sale of dotinurad rights to Crystalys Therapeutics with associated equity and royalty interests, and the initiation of Phase 3 trials of dotinurad for gout by Crystalys. Investors following FBIO news can use this page to review these types of announcements, track regulatory interactions, and monitor how Fortress’ subsidiaries and partners contribute to the overall portfolio.
AstraZeneca has acquired Caelum Biosciences for approximately $150 million, triggering an upfront payment to Caelum shareholders, with Fortress Biotech set to receive around $64 million from this transaction. In addition, Caelum's stockholders could receive up to $350 million based on future regulatory and commercial milestones. Fortress holds a significant share of the transaction proceeds, approximately 43%. The acquisition emphasizes Fortress Biotech's strategic focus on developing treatments for rare diseases, enhancing its portfolio of biopharmaceutical products.
Journey Medical Corporation, a partner of Fortress Biotech (NASDAQ: FBIO), has appointed Ernest De Paolantonio as Chief Financial Officer effective September 30, 2021. With over 40 years of experience in the pharmaceutical industry, De Paolantonio's previous roles include CFO at Teligent, Fortovia Therapeutics, and BioDelivery Sciences. His expertise is expected to strengthen Journey Medical's leadership team and support its strategy for expanding its dermatology product portfolio.
Fortress Biotech (NASDAQ: FBIO) announced that AstraZeneca's Alexion has exercised its option to acquire Caelum Biosciences, triggering a payment of approximately $150 million, with Fortress set to receive about $64 million. The acquisition, expected to close on October 5, 2021, facilitates accelerated Phase 3 development of CAEL-101 for AL amyloidosis. Additional payments up to $350 million are possible upon reaching certain milestones. This deal underscores Fortress's business model and validates the potential of CAEL-101, which has already received Fast Track Designation from the FDA.
Fortress Biotech, Inc. (NASDAQ: FBIO), a biopharmaceutical company, announced that its CEO, Dr. Lindsay A. Rosenwald, will participate in the Benzinga Healthcare Small Cap Conference on September 29-30, 2021. The company will present a corporate update on September 30 at 11:30 a.m. ET and Dr. Rosenwald will join a panel on 'Immuno-Oncology' the same day at 12:35 p.m. ET. Live streaming will be available via the press release link, and replays will be accessible on Fortress's website for 30 days following the event.
Fortress Biotech (NASDAQ: FBIO) has announced that its Chairman, President, and CEO, Lindsay A. Rosenwald, M.D., will participate in three virtual investor conferences in September 2021. The conferences include the H.C. Wainwright 23rd Annual Global Investment Conference, Oppenheimer Fall Healthcare Life Sciences & MedTech Summit, and Cantor Global Healthcare Conference. Presentations will be available for on-demand viewing on Fortress’ website for approximately 30 days after each event. Fortress is known for its innovative biopharmaceutical solutions and has a diverse pipeline of development-stage drugs.
Fortress Biotech reported record net revenue of $17.8 million for Q2 2021, an 89% increase year-over-year. The company generated $15.3 million from marketed dermatology products, up from $9.4 million. Fortress continues its growth trajectory by acquiring QBREXZA® and in-licensing several promising drug candidates. Key clinical milestones are expected, including top-line results from cosibelimab studies and a rolling NDA submission for CUTX-101 aimed at treating Menkes disease by year-end 2021.
Journey Medical Corporation has announced a partnership with Dr. Reddy’s Laboratories Ltd. to conduct two Phase 3 clinical trials for DFD-29, an oral formulation of minocycline aimed at treating rosacea. Journey Medical has acquired global commercialization rights except in specific markets. Previous Phase 2 trials showed DFD-29's efficacy, outperforming the existing treatment, Oraycea®. This collaboration is seen as a significant milestone for Journey Medical, expanding its dermatological footprint.
Fortress Biotech announced the participation of Lindsay A. Rosenwald, M.D., in three virtual investor conferences in June 2021. The events include the Summer Solstice Virtual Conference on June 2 at 1:00 PM ET, the LD Micro Invitational XI on June 9 at 2:00 PM ET, and the Raymond James Human Health Innovation Conference on June 22 at 3:20 PM ET. Webcasts of these presentations will be accessible on Fortress's website for 30 days post-event. Fortress, recognized in Deloitte’s Fast 500 for revenue growth, is focused on acquiring and developing biopharmaceutical products across several therapeutic areas.
Fortress Biotech, Inc. (NASDAQ: FBIO) announces a webinar featuring the management of its dermatology partner, Journey Medical Corporation, on May 19, 2021, at 1:00 p.m. ET. The webinar will be hosted by Scott R. Henry from ROTH Capital Partners. Journey Medical focuses on commercializing innovative dermatology products, currently marketing seven treatments for skin conditions. Fortress is recognized for its fast growth and has seven marketed products and over 25 development programs in areas like oncology and gene therapy.
Fortress Biotech (FBIO) reported Q1 2021 financial results, showing a consolidated cash position of $291.5 million, up from $235.0 million at year-end 2020. The company's net revenue was $11.6 million, down from $12.9 million year-over-year. The decline in revenue is attributed to increased coupon expenses. Fortress launched two new dermatology products, boosting its total to seven. Key developments include a forthcoming NDA submission for CUTX-101 for Menkes disease and anticipated results for cosibelimab in squamous cell carcinoma by year-end 2021.