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.
Fortress Biotech, Inc. (NASDAQ: FBIO) announced that its CEO, Lindsay A. Rosenwald, M.D., will participate in three virtual investor conferences this September. The events include:
- H.C. Wainwright 22nd Annual Global Investment Conference on September 14 at 3:00 p.m. EDT
- Cantor Virtual Global Healthcare Conference on September 16 at 3:20 p.m. EDT
- Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 22 at 1:40 p.m. EDT
Live webcasts will be available on Fortress's website, with archived versions accessible for 30 days post-event.
Fortress Biotech (Nasdaq: FBIO) announced positive results for CUTX-101, showing a statistically significant improvement in overall survival for patients with Menkes disease who received early treatment. The treatment demonstrated a nearly 80% reduction in the risk of death (Hazard Ratio = 0.21). Median survival for the treated cohort was 14.8 years versus 1.3 years for those untreated. The company plans to begin a rolling New Drug Application (NDA) submission to the FDA in Q4 2020, following its pre-NDA meeting. CUTX-101 has received multiple FDA designations, indicating its importance in treating this rare disease.
Fortress Biotech has announced the pricing of an underwritten public offering of 666,666 shares of its 9.375% Series A Preferred Stock at $18.00 per share, aiming for gross proceeds of approximately $12 million. The company has also given underwriters a 45-day option to purchase an additional 66,666 shares. The offering is set to close around August 31, 2020. Proceeds will be utilized for operational needs, including R&D and clinical trials. The Benchmark Company and ThinkEquity are acting as joint bookrunners for the offering.
Fortress Biotech, Inc. (FBIO) announced a virtual two-day summit on August 18-19, 2020, hosted by Mayank Mamtani of B. Riley FBR, featuring discussions on its diverse pipeline. The first day includes panels from Journey Medical Corporation, Cyprium Therapeutics, Avenue Therapeutics, and Mustang Bio. The second day focuses on oncology strategies, with presentations from Mustang Bio and Checkpoint Therapeutics. Fortress has a robust biopharmaceutical portfolio and recently ranked 10th in Deloitte’s 2019 Technology Fast 500. Webcast details are available on its investor page.
Fortress Biotech reported a 50% increase in product revenue to $21.4 million for the first half of 2020, driven by growth in its dermatology segment. Despite the pandemic's impact, the company executed an agreement with Columbia University to develop a novel oligonucleotide platform targeting genetically driven cancers. The upcoming months hold key milestones, including data from cosibelimab trials and the NDA submission for CUTX-101 for Menkes disease. However, Fortress reported a net loss of $13.3 million in Q2 2020, slightly higher than the previous year.
Fortress Biotech (FBIO) announces that the European Medicines Agency's Committee for Orphan Medicinal Products positively reviewed Cyprium Therapeutics' application for Orphan Drug Designation for Copper Histidinate (CUTX-101), a treatment for Menkes disease. Menkes disease is a severe genetic disorder affecting copper metabolism. The FDA has also granted various designations for CUTX-101. The EMA’s designation provides several benefits, including market exclusivity and assistance with clinical protocols.
Cyprium Therapeutics, a partner company of Fortress Biotech (Nasdaq: FBIO), is advancing the clinical development of CUTX-101 for Menkes disease, with a New Drug Application (NDA) submission expected in Q4 2020. A recent study published in Molecular Genetics and Metabolism Reports validates the use of targeted next-generation sequencing for newborn screening of Menkes disease, which is crucial for early diagnosis and treatment. The study shows a 95.5% detection rate for pathogenic variants, suggesting that early identification could significantly improve patient outcomes.
Fortress Biotech (Nasdaq: FBIO) has been added to the Russell 3000 index effective June 29, 2020. This inclusion enhances the company's visibility among investors and institutions, potentially increasing stockholder value. The Russell 3000 comprises the largest U.S. stocks, ranking them by market capitalization. Fortress has a portfolio of five marketed drugs and over 25 development programs in areas like oncology and gene therapy. CEO Lindsay A. Rosenwald expressed optimism about this milestone and its implications for future growth.
Fortress Biotech (Nasdaq: FBIO) announced that Lindsay Rosenwald, M.D., will present a company overview at the Raymond James Human Health Innovation Conference on June 18, 2020, at 11:00 a.m. EDT, in a virtual format. Fortress is focused on acquiring and developing high-potential pharmaceutical products, with over 25 programs in development across areas like oncology and rare diseases. Recently ranked 10th in Deloitte's 2019 Technology Fast 500™, Fortress aims to maximize partnerships and advance its diversified pipeline.
Fortress Biotech, Inc. (FBIO) announced the publication of a study evaluating Menkes disease prevalence, revealing an estimated birth rate of 1 in 34,810 males. Previous estimates ranged from 1 in 40,000 to 1 in 354,507. The study suggests Menkes disease is under-reported, potentially due to healthcare access issues. Early diagnosis through newborn screening is recommended to enhance patient outcomes. CUTX-101, a treatment currently in development, aims to restore copper levels in affected patients and has shown promise in clinical trials.
