Fortress Biotech posts FY2024 net loss of $55.9M; Checkpoint to be acquired by Sun Pharma

Fortress Biotech, Inc.

2025-Q1 EPS reported -$0.48 vs consensus -$0.50 ▲ beat (+4.9%)

Net loss attributable to common stockholders of $55.9M ($2.69/sh) vs $68.7M ($8.47/sh) in FY2023; net revenue $57.7M, down from $84.5M.
FDA approved Emrosi (rosacea) in Nov 2024 and UNLOXCYT (cSCC) in Dec 2024; commercial launch of Emrosi underway.
Checkpoint to be acquired by Sun Pharma for $4.10/sh upfront plus up to $0.70 CVR; Fortress expects ~$28M at closing plus 2.5% royalty.
FDA accepted CUTX-101 NDA for priority review with PDUFA date Sept 30, 2025.
Cash $57.3M as of Dec 31, 2024; paused Series A Preferred dividends in July 2024, deferring ~$0.7M/month.

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