Fortress Biotech pauses monthly dividend on Series A Preferred Stock

Fortress Biotech, Inc.

Dividend of $0.1953125/share on 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock paused effective July 1, 2024; no payment on July 31, 2024.
Pause defers approximately $0.7 million in cash dividend payments per month; dividends continue to accrue and cumulate.
Board will reassess regularly based on profitability and cash flow; cited upcoming potential regulatory approvals (DFD-29, cosibelimab, CUTX-101, and CAEL-101) as inflection points.
CEO Lindsay Rosenwald noted the pause aims to maintain financial flexibility ahead of up to four potential NDA/BLA submissions or approvals in the next 12-18 months.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.