secwatch.observer — SEC 8-K summary
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Issuer:     Fortress Biotech, Inc. (FBIO)
CIK:        0001429260
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001558370-23-009953
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429260/000155837023009953/0001558370-23-009953-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429260/000155837023009953/fbio-20230515x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-009953

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer