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. (symbol: FBIO) is a pioneering biopharmaceutical company focused on acquiring, developing, and commercializing innovative pharmaceutical and biotechnology products. The company operates through a unique model of establishing subsidiary companies, collectively known as Fortress companies, to promote research, development, and commercialization efforts.
Fortress Biotech leverages its deep expertise in the biopharmaceutical industry and drug development to support its subsidiaries. The company offers funding, management services, and strategic guidance to bolster the success of its Fortress companies. This collaborative approach enables the subsidiaries to focus on breakthrough innovations while benefiting from Fortress Biotech's resources and infrastructure.
The company's diverse product portfolio includes several key products such as Qbrexza, Accutane, Amzeeq, Zilxi, Targadox, Ximino, and Exelderm. These products span across therapeutic areas with a significant focus on dermatology, where Fortress derives the majority of its revenue. Beyond dermatology, the company and its subsidiaries are deeply engaged in biotechnology, pharmaceutical development, oncology, and therapeutics.
Fortress Biotech continuously seeks strategic partnerships, licensing opportunities, joint ventures, and public and private financing to accelerate and support its research and development programs. These collaborations aim to enhance the company's capacity to bring novel treatments to market and address unmet medical needs.
For the latest updates and events, including financial results discussions and corporate updates, Fortress Biotech frequently engages with its stakeholders through conference calls and press releases.
For more information or media inquiries, please contact:
Jaclyn Jaffe, Fortress Biotech, Inc.: (781) 652-4500, ir@fortressbiotech.com
Tony Plohoros, 6 Degrees: (908) 591-2839, tplohoros@6degreespr.com
Journey Medical (NASDAQ: DERM) announced a settlement with Padagis US LLC regarding patents for three key products: QBREXZA, AMZEEQ, and ZILXI. Under the agreement, Padagis cannot launch generics until August 15, 2030, July 1, 2031, and April 1, 2027, respectively. This settlement is aimed at solidifying Journey Medical's market exclusivity and supporting sales growth for these dermatological products. The CEO emphasized the importance of enforcing intellectual property rights to benefit the company, shareholders, and patients relying on these treatments.
Journey Medical Corporation (NASDAQ: DERM), a pharmaceutical company specializing in dermatology, will present at the B. Riley Securities 22nd Annual Institutional Investor Conference on May 26, 2022. CEO Claude Maraoui will provide a corporate overview at 12:20 p.m. PT and will engage in one-on-one meetings during the event. Journey Medical focuses on innovative dermatology products and currently markets nine such products. Founded by Fortress Biotech (NASDAQ: FBIO), the company is headquartered in Scottsdale, Arizona.
Fortress Biotech (NASDAQ: FBIO) announced that its Chairman and CEO, Lindsay A. Rosenwald, M.D., will participate in two investor conferences in May 2022. The events include the H.C. Wainwright Global Investment Conference on May 24, 2022, at 9:30 a.m. ET, and the B. Riley Securities 22nd Annual Institutional Investor Conference on May 26, 2022, at 10:10 a.m. PT. A webcast of the H.C. Wainwright presentation will be available on Fortress' website for 30 days. Fortress focuses on acquiring and developing high-potential therapeutic products across various medical fields.
Fortress Biotech (FBIO) reported a remarkable 106% increase in net revenue for Q1 2022, reaching $23.9 million compared to $11.6 million in Q1 2021. The company ended the quarter with $289.7 million in cash and cash equivalents. Positive results from the clinical trial of cosibelimab for metastatic cSCC were noted, with a BLA submission expected in 2022. Additionally, the rolling NDA for CUTX-101 for Menkes disease is targeted for completion in mid-2022. Significant patient data and multiple regulatory submissions are anticipated throughout the year.
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.
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