Fortress Biotech, Inc. (FBIO)
Fortress Biotech, Inc. is a biotechnology company focused on developing and commercializing innovative therapies across various medical fields. It engages in the discovery, development, and commercialization of pharmaceutical and biologic products, with a portfolio that includes several subsidiaries and pipeline candidates aimed at addressing unmet medical needs.
Company News
Fortress Biotech and its subsidiary Cyprium Therapeutics received a Complete Response Letter from the FDA regarding the New Drug Application for CUTX-101, citing manufacturing facility cGMP deficiencies, which negatively impacted the company's stock price.
Fortress Biotech announced the closing of the sale of its subsidiary Checkpoint Therapeutics to Sun Pharmaceutical Industries Limited. The transaction will generate approximately $28 million for Fortress and a 2.5% royalty on net sales of Checkpoint's FDA-approved drug UNLOXCYT.
Fortress Biotech CEO Dr. Lindsay A. Rosenwald has increased his stake in the company by purchasing $36.7k worth of Series A Cumulative Perpetual Preferred Stock. This move demonstrates the CEO's confidence in the company's future prospects.
AquaBounty Technologies (AQB) delivered earnings and revenue surprises of -7.75% and 4.60%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
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