secwatch.observer — SEC 8-K summary
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Issuer:     Fortress Biotech, Inc. (FBIO)
CIK:        0001429260
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001558370-24-012057
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortress Biotech Q2 net loss $13.3M; pauses preferred dividend; two PDUFA dates in Q4 2024
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- Q2 2024 net revenue $14.9M (dermatology) vs $17.4M Q2 2023; net loss attributable to common $13.3M ($0.73/sh) vs $26.9M ($3.65/sh).
- Cash and equivalents $76.2M at June 30, down from $80.9M at Dec 31, 2023; $38.2M attributable to Fortress/private subs.
- Board paused Series A Preferred Stock (9.375%) dividends indefinitely, deferring ~$0.7M/month; new Oaktree loan $35M (up to $50M) repaid prior $50M, net paydown $15M.
- FDA PDUFA goal dates: DFD-29 for rosacea Nov 4, 2024; cosibelimab for cSCC Dec 28, 2024 – potential approvals in Q4.
- Subsidiary Urica transferred dotinurad rights to Crystalys for 35% equity and 3% royalty; clinical trials ongoing for AJ201 (SBMA) and Triplex (CMV).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429260/000155837024012057/0001558370-24-012057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429260/000155837024012057/fbio-20240813x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-012057

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