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.
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Cyprium Therapeutics, a subsidiary of Fortress Biotech, receives a $4.1 million grant from NIH to advance AAV-ATP7A gene therapy in conjunction with CUTX-101 for Menkes disease treatment. The combination shows promising results in preclinical studies, aiming to be the first FDA-approved treatment for this rare pediatric disease.
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Journey Medical Corporation (DERM) submits NDA for DFD-29, a potential best-in-class oral medication for rosacea treatment, supported by positive Phase 3 clinical data.
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Fortress Biotech, Inc. (FBIO) announced the closing of a registered direct offering, issuing 3,303,305 shares of common stock and warrants at a combined offering price of $3.33 per share, resulting in gross proceeds of approximately $11.0 million. The transaction closed on January 3, 2024, with Roth Capital Partners acting as the exclusive placement agent.
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Journey Medical Corporation (Nasdaq: DERM) announced a credit facility with SWK Holdings Corporation for up to $20 million to support general corporate purposes and potential launch of DFD-29.
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Fortress Biotech, Inc. (Nasdaq: FBIO) has entered into a definitive agreement for the issuance and sale of 3,303,305 shares of its common stock and warrants to purchase up to 3,303,305 shares of common stock at a combined offering price of $3.33 per share of common stock and accompanying warrant priced at-the-market under Nasdaq rules. The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $11.0 million. Fortress expects to use the net proceeds from the offering for its operations, including, but not limited to, general corporate purposes, which may include research and development expenditures, clinical trial expenditures, license or acquisition of new products, and working capital.
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Sentynl Therapeutics, Inc. (Sentynl) has acquired worldwide proprietary rights and U.S. FDA documents for CUTX-101, a potential FDA-approved treatment for Menkes disease. The rolling submission of the New Drug Application to the FDA is ongoing and expected to be completed in 2024.
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Cyprium Therapeutics, Inc. (Cyprium) received $4.5 million payment upon closing and remains eligible to receive royalties and up to $129 million in aggregate development and sales milestones from Sentynl Therapeutics, Inc. (Sentynl) for the transfer of its proprietary rights and FDA documents pertaining to CUTX-101, a Copper Histidinate product candidate for the treatment of Menkes disease. Cyprium will retain 100% ownership over any FDA priority review voucher that may be issued at NDA approval for CUTX-101. The transfer aims to reduce Cyprium's development-related spend and potentially expedite commercialization upon FDA approval, with the drug demonstrating a compelling safety and efficacy profile for the treatment of Menkes disease.
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Journey Medical Corporation (Nasdaq: DERM) is on track to submit a New Drug Application to the FDA for DFD-29 around year-end of 2023. Positive topline data from Journey Medical’s two DFD-29 Phase 3 clinical trials for the treatment of rosacea were reported in July 2023, achieving all co-primary and secondary endpoints with no significant safety issues.
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Fortress Biotech, Inc. (Nasdaq: FBIO) announced a 100% increase in total consolidated net revenue to $34.8 million in Q3 2023. The company is advancing late-stage clinical assets with potential NDA and BLA submissions to the FDA through 2024, including DFD-29 to treat rosacea. Recent corporate highlights include a $19 million upfront payment Journey Medical received for an exclusive license agreement with Maruho for commercialization of Qbrexza® in additional territories in Asia. Financial results show a decrease in consolidated cash, cash equivalents, and restricted cash to $74.7 million as of September 30, 2023, compared to $89.2 million as of June 30, 2023.
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Fortress Biotech, Inc. (Nasdaq: FBIO) announced the closing of a public offering, raising approximately $10.0 million in gross proceeds. The offering consisted of 5,885,000 units, each comprising one share of common stock and one warrant to purchase one share of common stock, at a public offering price of $1.70 per unit. The net proceeds will be utilized for general corporate purposes, including research and development, clinical trials, product manufacture, and working capital.
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Fortress Biotech Inc
Nasdaq:FBIO
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Biotechnology
Pharmaceutical Preparations
United States
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