FBIO Fortress Biotech, Inc.
Financings ·
Cyprium, a majority-owned Fortress Biotech subsidiary, agreed on February 22, 2026 to sell a priority review voucher for $205 million in cash at closing. Fortress also amended its Oaktree credit agreement, with about $29.5 million outstanding.
Checkpoint Therapeutics became a wholly owned Sun Pharma subsidiary on May 30, 2025. Fortress may also get up to $4.8 million through CVRs and a 2.5% royalty on certain net sales.
Fortress Biotech says it will receive about $28.0 million in cash from the sale of Checkpoint Therapeutics to Sun Pharma, with up to $4.8 million more if a milestone is met. The gain on deconsolidation is an accounting figure, and pro forma cash is lower than reported.
Checkpoint Therapeutics, the majority-controlled unit of Fortress Biotech, agreed to be bought by Sun Pharma for $4.10 in cash per share plus a contingent value right of up to $0.70. Fortress has agreed to vote in favor and will receive a 2.5% royalty.
The warrants can be exercised only after stockholders approve. The offering follows a 1-for-50 reverse stock split on January 15, 2025.
Fortress Biotech is a biopharmaceutical company focused on acquiring and advancing assets through product revenue, equity holding, and dividend and royalty revenue streams. After acquiring or licensing the intellectual property behind a product candidate, Fortress helps its subsidiaries and partner companies pursue development and commercialization, which may include joint ventures, partnerships, out-licensings and financings. Named institutional and corporate partners include City of Hope National Medical Center, Dana-Farber Cancer Institute, AstraZeneca, Dr. Reddy's Laboratories and Sun Pharmaceutical Industries. Its partner company Journey Medical markets branded dermatology products in the United States, including Emrosi, a 40mg minocycline capsule for rosacea approved in November 2024. The FDA approved ZYCUBO (copper histidinate) on January 13, 2026 for pediatric patients with Menkes disease. Fortress is eligible for a 2.5% royalty on net sales of UNLOXCYT (cosibelimab-ipdl), after the May 2025 acquisition of its former subsidiary Checkpoint by Sun Pharma. In February 2026, Avenue Therapeutics obtained an exclusive license from Duke University for ATX-04 (clenbuterol) for lysosomal storage diseases.
| Product or program | What it is | Stage |
|---|---|---|
| Emrosi | Oral minocycline hydrochloride extended-release capsule for rosacea in adults, marketed by Journey | Approved in the US; launched March 2025 |
| ZYCUBO (copper histidinate) | Treatment of pediatric patients with Menkes disease | Approved in the US, January 13, 2026 |
| Qbrexza | Medicated cloth towelette for primary axillary hyperhidrosis, marketed by Journey | Approved in the US |
| UNLOXCYT (cosibelimab-ipdl) | Product from former subsidiary Checkpoint; Fortress receives a 2.5% royalty | |
| ATX-04 (clenbuterol) | Lysosomal storage disease candidate licensed from Duke University by Avenue | License agreement entered February 18, 2026 |
| Line | FY2025 | FY2024 |
|---|---|---|
| Revenue | $63.3 million | $57.7 million |
| Net income (loss) | $6.8 million | -$46.0 million |
| Cash from operations | -$65.8 million | -$80.2 million |
| Cash and equivalents | $79.4 million | $57.3 million |
Our latest story on this, dated Jun 5, 2025: "Fortress Biotech to receive about $28.0 million as Checkpoint merger with Sun Pharma closes". The story links the filing or release it is based on. Read the story.
Fortress Biotech, Inc. trades under the ticker FBIO on NASDAQ.
Fortress Biotech, Inc. is listed on NASDAQ. Our directory also records these other listings: NASDAQ:FBIOP.
The SEC Central Index Key (CIK) for Fortress Biotech, Inc. is 1429260. Its filings are on SEC EDGAR.
82,474,127 shares as of 2020-05-07, per the cover page of its 10-Q filed 2020-05-11.
Our directory records Fortress Biotech, Inc. under United States.
Our directory classifies Fortress Biotech, Inc. as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Fortress Biotech, Inc. is US34960Q3074.
aibio.space lists Fortress Biotech, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Fortress Biotech is a biopharmaceutical company focused on acquiring and advancing assets through product revenue, equity holding, and dividend and royalty revenue streams. After acquiring or licensing the intellectual property behind a product candidate, Fortress helps its subsidiaries and partner companies pursue development and commercialization, which may include joint ventures, partnerships, out-licensings and financings.
Emrosi: Oral minocycline hydrochloride extended-release capsule for rosacea in adults, marketed by Journey Stage: Approved in the US; launched March 2025.
ZYCUBO (copper histidinate): Treatment of pediatric patients with Menkes disease Stage: Approved in the US, January 13, 2026.
$63.3 million for the fiscal year ended Dec 31, 2025, as reported to the SEC.
Fortress Biotech, Inc. reported net income of $6.8 million for the fiscal year ended Dec 31, 2025, and used $65.8 million of cash in operations, per its annual report to the SEC.
Reported a financing. SEC Form 8-K (Items 8.01,9.01). Source
Reported a financing. SEC Form 8-K (Items 1.01,2.03,8.01,9.01). Source
Reported an unregistered sale of its securities. SEC Form 8-K (Items 1.01,2.03,3.02). Source
Reported completing an acquisition or a sale of assets. SEC Form 8-K (Items 2.01,9.01). Source
Reported a merger or acquisition agreement. SEC Form 8-K (Items 1.01,9.01). Source
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