Fortress closes sale of Checkpoint to Sun Pharma; receives ~$28M cash plus milestones

Fortress Biotech, Inc.

Checkpoint merged into Sun Pharma on May 30, 2025; deconsolidated from Fortress.
Fortress gets ~$28.0M cash at close, up to $4.8M regulatory milestone, and quarterly royalty of 2.5% on certain product net sales.
Pro forma gain on deconsolidation is $26.6M; pro forma net loss attributable to common stockholders improves from $(0.48) to $0.57 per share for Q1 2025.

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