---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-009953"
form_type: "8-K"
ticker: "FBIO"
cik: "0001429260"
company_name: "Fortress Biotech, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:54:49.855171+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-009953
- form_type: 8-K
- ticker: FBIO
- cik: 0001429260
- company_name: Fortress Biotech, Inc.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1429260/000155837023009953/0001558370-23-009953-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1429260/000155837023009953/fbio-20230515x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-009953
- JSON: https://secwatch.observer/filing/0001558370-23-009953.json
- Plain text: https://secwatch.observer/filing/0001558370-23-009953.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1429260/000155837023009953/0001558370-23-009953-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.