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
Fortress Biotech subsidiary, Aevitas Therapeutics, has entered into an asset purchase agreement with 4D Molecular Therapeutics (4DMT) for Aevitas' short-form human complement factor H (sCFH) asset, targeting complement-mediated diseases. The agreement could yield up to $140 million in milestone payments and royalties for Aevitas. 4DMT plans to develop product candidate 4D-175 to treat Geographic Atrophy (GA) linked to age-related macular degeneration (AMD). This innovative therapy combines Aevitas' sCFH with 4DMT's proprietary vector, enhancing treatment efficacy. Fortress' CEO, Lindsay A. Rosenwald, emphasized the partnership’s potential to generate shareholder value by expediting the development of this promising therapy. The technology aims to restore normal complement regulation and reduce retinal injury.
Fortress Biotech, Inc. (Nasdaq: FBIO) reported consolidated net revenues of $75.7 million for the full-year 2022, a significant growth from $68.8 million in 2021. The company is gearing up to file three new drug applications in 2023, including the Biologics License Application for cosibelimab for cSCC and NDA submissions for CUTX-101 and DFD-29. Cosibelimab's FDA filing was accepted with a PDUFA date set for January 3, 2024. The company aims to enhance its clinical pipeline and diversify with new acquisitions while maintaining a strong growth trajectory amidst escalating R&D expenditures.
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