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.
Fortress Biotech has announced a public offering of 555,556 shares of its 9.375% Series A Preferred Stock at $18.00 per share, aiming for approximately $10 million in gross proceeds. Underwriters have a 45-day option for an additional 83,333 shares. The offering is set to close on or about May 29, 2020. Proceeds will fund operations, including R&D and clinical trials. The offering is managed by The Benchmark Company and ThinkEquity. This statement does not constitute an offer to sell securities where prohibited by law.
On May 8, 2020, Fortress Biotech, Inc. (FBIO) announced that its partner, Oncogenuity, has signed an exclusive licensing agreement with Columbia University. The focus is on developing ONCOlogues, advanced oligonucleotides targeting genetically driven cancers, particularly KRAS mutations considered 'un-druggable.' These ONCOlogues, which show potential efficacy in combating coronaviruses, are noted for their ability to bind gene sequences more effectively than traditional methods. Oncogenuity has established proof-of-concept in pre-clinical settings and plans to publish additional data within the next year.