secwatch.observer — SEC 8-K summary
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Issuer:     Fortress Biotech, Inc. (FBIO)
CIK:        0001429260
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0001558370-23-019030
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortress Biotech Q3 net revenue $34.8M (up 100% QoQ); net loss narrows to $7.1M
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- Total consolidated net revenue $34.8M, including $19M upfront payment from Journey Medical's Maruho license.
- Net loss attributable to common stockholders $7.1M ($0.94/share) vs $24.5M ($4.11) in Q3 2022.
- Cash, equivalents and restricted cash $74.7M at Sept 30; subsequent public offering raised $10M in Nov 2023.
- NDA for DFD-29 (rosacea) expected around year-end 2023; cosibelimab PDUFA date Jan 3, 2024.
- Effected 1-for-15 reverse stock split in Oct 2023 to meet Nasdaq minimum bid price requirement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429260/000155837023019030/0001558370-23-019030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429260/000155837023019030/fbio-20231114x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-019030

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