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 (FBIO) delivers innovative biopharmaceutical solutions through strategic acquisitions and subsidiary-driven development. This news hub provides investors and industry observers with centralized access to verified corporate updates across all therapeutic focus areas.
Track the latest press releases, regulatory milestones, and partnership announcements from Fortress Biotech and its network of specialized subsidiaries. Our curated feed includes updates on dermatology advancements, oncology research breakthroughs, and rare disease therapeutic developments. Stay informed about licensing agreements, clinical trial progress, and product commercialization efforts.
This resource serves as your primary source for FDA submissions, earnings reports, and strategic collaborations shaping FBIO's diversified pipeline. Bookmark this page for real-time updates on drug development progress and corporate initiatives that drive value across Fortress Biotech's unique operational ecosystem.
Cyprium Therapeutics, a partner company of Fortress Biotech (FBIO), announced significant findings regarding CUTX-101, a treatment for Menkes disease. Results from pivotal studies showed that patients treated with CUTX-101 had a median overall survival of 177.1 months, representing a 79% reduction in the risk of death compared to untreated controls. A rolling submission of a New Drug Application to the FDA is set for Q4 2021, potentially making CUTX-101 the first FDA-approved therapy for this condition. The treatment was well tolerated, with no discontinuations due to adverse events.
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.
