Fortress Biotech, Inc. - FBIO STOCK NEWS

Journey Medical Corporation (Nasdaq: DERM) has announced plans to release its year-end 2022 financial results on March 29, 2023, after U.S. market close. The Company will host a conference call at 4:30 p.m. ET to discuss the results and provide a corporate update. Interested parties can join the call by dialing 1-866-777-2509 (U.S.) or 1-412-317-5413 (international) approximately 10 minutes prior to start time. A live audio webcast and replays will be available on the Company’s website. Journey Medical focuses on dermatological pharmaceutical products and is based in Scottsdale, Arizona.

Journey Medical Corporation (Nasdaq: DERM) has completed treatment in its Phase 1 clinical trial of DFD-29, aimed at treating papulopustular rosacea. The trial involved 60 healthy adults and assessed both safety and tolerability, with no significant safety issues reported. Topline results from this trial are expected in the first half of 2023. Additionally, the Phase 3 trials for DFD-29 have been fully enrolled, with data anticipated in the same timeframe, leading to a potential New Drug Application filing later in 2023. Rosacea affects over 16 million Americans, emphasizing the market need for effective treatments.

Journey Medical Corporation (Nasdaq: DERM), a biopharmaceutical company focused on dermatological treatments, will participate in the 35th Annual ROTH Conference from March 12-14, 2023. CEO Claude Maraoui will host a fireside chat on March 14 at 9:30 a.m. PT and will be available for one-on-one meetings. A webcast of the chat will be accessible on Journey Medical's website for 30 days post-event. The company is committed to innovative dermatology products and currently markets eight treatments for common skin conditions. Founded by Fortress Biotech (Nasdaq: FBIO), Journey Medical is headquartered in Scottsdale, Arizona.

Fortress Biotech, Inc. (NASDAQ: FBIO) announced that Dr. Lindsay A. Rosenwald will participate in two investor conferences in March 2023. The 35th Annual ROTH Conference will include a fireside chat on March 13, 2023, at 9:00 a.m. PT, with a subsequent webcast available for 30 days. The Oppenheimer 33rd Annual Virtual Healthcare Conference will feature a presentation on March 15, 2023, at 12:40 p.m. ET, also followed by a 30-day webcast. Fortress Biotech focuses on acquiring, developing, and commercializing innovative therapeutic products, maintaining a diversified pipeline across various medical sectors.

Helocyte, a subsidiary of Fortress Biotech (Nasdaq: FBIO), announced the presentation of Phase 1 trial results for its CMV vaccine, Triplex, at the 2023 Tandem Meetings in Orlando. The trial highlighted that donor vaccination with Triplex significantly enhanced CMV-specific immunity in recipients of allogeneic hematopoietic cell transplants (HCT). Key findings showed an 18% rate of CMV events requiring antiviral intervention in recipients with vaccinated donors, compared to 37% in control cohorts. The promising results suggest potential for Triplex to reduce antiviral therapy needs and improve outcomes in immunocompromised transplant patients.

Helocyte, a subsidiary of Fortress Biotech (FBIO), announced a Phase 2 clinical trial to evaluate the efficacy of its Triplex vaccine in enhancing CMV-specific T cell immunity in stem cell transplant recipients. A Phase 1 pilot study demonstrated Triplex's feasibility, safety, and potential efficacy with significant increases in CMV-specific T cells in vaccinated donors. The trial revealed that only 18% of recipients with Triplex-vaccinated donors experienced CMV reactivation, compared to 37% in control groups. Helocyte's Triplex vaccine aims to improve post-transplant outcomes and decrease reliance on toxic antivirals.

On February 10, 2023, Fortress Biotech (Nasdaq: FBIO) announced the successful closure of a registered direct offering and a concurrent private placement. The company issued 16.6 million shares of common stock at $0.835 each, raising approximately $13.9 million in gross proceeds. Notably, directors and officers participated in the offering, purchasing around $3.3 million in shares. Additionally, the private placement includes rights to acquire 3.5% of the outstanding shares in future subsidiaries, contingent on specific corporate developments. Proceeds will be used for general corporate purposes and working capital.

Fortress Biotech, Inc. (Nasdaq: FBIO) has announced a registered direct offering of 16.6 million shares of common stock at $0.835 per share, totaling approximately $13.9 million in gross proceeds. Notably, certain company directors and officers invested about $3.3 million in this offering. Additionally, investors will receive rights to acquire around 3.5% of potential shares from the company's upcoming subsidiaries, contingent on specific corporate developments in the next five years. The offering is expected to close by February 10, 2023, subject to customary conditions. Proceeds will be used for general corporate purposes and working capital.

Journey Medical Corporation (Nasdaq: DERM) announced that Ernest De Paolantonio will step down as Chief Financial Officer effective January 27, 2023, to pursue another opportunity. Joseph M. Benesch has been appointed as Interim Chief Financial Officer from the same date. Claude Maraoui, CEO, noted Benesch's extensive experience and preparation for this leadership role. An internal and external search for a permanent CFO is underway. De Paolantonio will consult until March 31, 2023, ensuring a smooth transition. This change comes as Journey Medical anticipates significant milestones, including topline data from Phase 3 clinical trials in the first half of 2023.