Fortress Biotech Q1 GAAP net loss widens to $21.5M; dermatology revenue drops 41%

Fortress Biotech, Inc.

2023-Q1 EPS reported -$0.21 revenue$12,429,000

GAAP net loss $21.5M ($0.21/sh) vs $15.8M ($0.18/sh) YoY; non-GAAP core loss $6.5M ($0.06/sh).
Total net revenue $12.4M (down 48% YoY); Journey Medical dermatology revenue $12.2M (vs $20.8M) on Targadox generic pressure.
Cash $154.9M at Mar 31 vs $181.0M at Dec 31; Feb 2023 registered direct offering raised ~$13.9M.
DFD-29 Phase 3 topline results expected June 2023; NDA for papulopustular rosacea planned H2 2023.
Cosibelimab PDUFA date Jan 3, 2024; CUTX-101 rolling NDA to complete by end 2023; dotinurad Phase 1 topline data Q2 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Fortress Biotech, Inc. reported financial results for for the quarter ended March 31, 2023.

Period: for the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 15, 2023, Fortress Biotech, Inc. issued a press release to announce financial results and recent corporate highlights for the quarter ended March 31, 2023.

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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 0001558370-23-009953

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