Fortress Biotech, Inc. (FBIO): M&A transaction — 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.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Fortress Biotech, Inc. completed a disposition involving Sun Pharmaceutical Industries, Inc. for approximately $28.0 million in cash (closed 2025-05-30).

Action: disposition
Counterparty: Sun Pharmaceutical Industries, Inc.
Consideration: approximately $28.0 million in cash
Closing: 2025-05-30

Exact text from the filing

as a subsidiary of Fortress (the “Subsidiary Sale”). In connection with the closing of the Merger and pursuant to the Merger Agreement, Fortress will receive approximately $28.0 million in cash and be eligible to receive up to an additional $4.8 million upon achievement of a regulatory milestone associated with the rights (“CVRs”) issued under a Contingent Value

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Fortress Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-25-008433

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