Fortress Biotech Q2 net revenue $17.4M (+40% QoQ); DFD-29 Phase 3 positive, cosibelimab PDUFA Jan 2024

Fortress Biotech, Inc.

2023-Q2 EPS reported -$0.47 revenue$29,815,000

Total net revenue $17.4M in Q2 2023, a 40% increase from $12.4M in Q1 2023; dermatology products contributed $17.0M.
DFD-29 Phase 3 trials for rosacea met co-primary and all secondary endpoints vs placebo and Oracea; NDA submission expected H2 2023.
Cosibelimab BLA accepted with PDUFA date Jan 3, 2024; new longer-term data showed 55% ORR and 23% CR in locally advanced cSCC.
Cash, equivalents and restricted cash $89.2M at June 30, 2023, down from $181.0M at Dec 31, 2022.
Bylaws amended to clarify stockholder voting majority requirement; effective August 10, 2023.

item 2.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortress Biotech, Inc. reported second quarter ended June 30, 2023 results: revenue $17.4 million.

Period: second quarter ended June 30, 2023
Revenue: $17.4 million
Result: reported results

Exact text from the filing

Total net revenue was $17.4 million in the second quarter of 2023, a 40% increase from $12.4 million in the first quarter of 2023

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Fortress Biotech, Inc.: Amendment to Article II, Section 7 of the bylaws changing the voting requirement for stockholder actions (effective 2023-08-10).

Change: bylaw amendment
Effective: 2023-08-10

Exact text from the filing

the affirmative vote of a majority of the shares of stock present or represented at the meeting, by ballot, proxy or electronic ballot, unless a different or minimum vote is required by the Certificate of Incorporation, these Bylaws, the Delaware General Corporate Law, the rules or regulations of any stock exchange applicable to the corporation, or any law or regulation applicable to the corporation or its securities, in which case such different or minimum vote shall be the required vote on the matter.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Fortress Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-091319

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