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.
Fortress Biotech (Nasdaq: FBIO) reported first quarter 2024 financial results and corporate highlights. The company achieved a 7% year-over-year product revenue growth, driven by over 20% growth in flagship products Qbrexza and Accutane. The FDA accepted the NDA for DFD-29, with a PDUFA goal date of November 4, 2024. Phase 2 trials for Triplex for CMV control in liver transplantation and other clinical trials are progressing. Revenue for Q1 2024 was $13 million, up from $12.2 million in Q1 2023. Consolidated net loss was $17.7 million, or $1.03 per share, improved from a $23.5 million loss, or $3.47 per share, in Q1 2023.
Journey Medical (Nasdaq: DERM), a commercial-stage pharmaceutical company specializing in FDA-approved dermatological treatments, announces its participation in the Alliance Global Partners’ Virtual Healthcare Company Showcase.
CEO Claude Maraoui will participate in a fireside chat on May 21, 2024, at 1:00 p.m. ET. The event will provide insights into the company's operations and future plans.
Registration for the conference is available online, and a replay of the chat will be accessible on Journey Medical’s website for 30 days after the event.
Fortress Biotech, in collaboration with its subsidiary Helocyte, announced the commencement of a Phase 2 clinical trial for Triplex, a vaccine targeting cytomegalovirus (CMV) in liver transplant patients. The trial is funded by a $9 million grant from the NIH/NIAID, with an additional $12 million expected over the next four years. Conducted at up to 20 U.S. transplant centers, this randomized, placebo-controlled study will involve 416 participants. The primary objective is to assess Triplex's efficacy in reducing CMV antiviral therapy duration within the first 100 days post-transplant. Secondary endpoints include the development and onset timing of CMV disease within six months post-transplant. This trial aims to address the significant unmet need for effective CMV therapies in transplant settings.
Journey Medical (Nasdaq: DERM) reported a 7% year-over-year increase in total revenues for Q1 2024, reaching $13 million. This growth was driven by significant increases in the sales of Qbrexza and Accutane, despite declines in other products like Amzeeq and Zilxi. The company reported a net loss of $10.4 million, slightly higher than the $10.1 million loss in Q1 2023. Research and development expenses surged due to a $4 million FDA filing fee and a $3 million milestone payment. Journey Medical's New Drug Application for DFD-29 to treat rosacea has been accepted by the FDA, with a PDUFA goal date of November 4, 2024, potentially making it a leading systemic therapy for rosacea.
Checkpoint Therapeutics, Inc. will participate in the H.C. Wainwright 2nd Annual BioConnect Investor Conference where James Oliviero, President and CEO, will have a fireside chat. The event will take place on May 20, 2024, at 12:30 p.m. ET at NASDAQ. Checkpoint will also have one-on-one meetings during the conference. A webcast of the fireside chat will be available on the News & Events page of Checkpoint's website for 30 days post-event.
Checkpoint Therapeutics, Inc. reported financial results for Q1 2024, revealing increased cash reserves, reduced R&D expenses, and an appointment to the Board of Directors. The company aims to address FDA feedback for potential BLA resubmission mid-year.
Journey Medical , a pharmaceutical company specializing in dermatological products, will announce its first quarter 2024 financial results on May 13, 2024. The company will host a conference call to discuss the results and provide a corporate update at 4:30 p.m. ET on the same day.
Journey Medical has appointed Joseph M. Benesch as Chief Financial Officer, effective April 26, 2024. Benesch brings over 25 years of experience in financial leadership and reporting, with a focus on the pharmaceutical industry. The company's Co-Founder, President, and CEO praised Benesch's expertise and contributions to the finance and accounting team, emphasizing his role in upcoming milestones like the potential approval of DFD-29 for rosacea treatment. Benesch's extensive background includes positions at Teligent Pharma Inc., Torrent Pharmaceuticals, Savient Pharmaceuticals, Adare Pharmaceuticals, and Edenbridge Pharmaceuticals, along with experience at Baker Tilly Virchow Krause, LLP, and Ernst and Young. With a BA in accounting and CPA certification from Wilkes University, Benesch aims to drive sustainable value for Journey Medical and its shareholders while supporting patients with dermatological products.
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