Fortress Biotech Reports Third Quarter 2026 Financial Results and Recent Corporate Highlights

(NASDAQ:FBIO) Fortress Biotech, Inc. announced its financial results and recent corporate highlights for the third quarter ended September 30, 2026. In September 2026, Fortress repaid in full the remaining $15.0 million in outstanding principal under its senior secured credit agreement with Oaktree Fund Administration, LLC, originally a $50.0 million facility entered into in July 2024, resulting in no outstanding parent-level debt. Fortress’ majority-owned subsidiary entered into an exclusive licensing agreement with Cedars-Sinai to develop FB-607, a novel drug for IBS-D, which is currently in a Phase 2 randomized, placebo-controlled trial, with top-line data expected in the second half of 2027. Journey Medical Corporation, a partner company, reported approximately 40,000 prescriptions for Emrosi® in Q3 2026, with net product revenues of $18.9 million for the quarter, up from $17.0 million in Q3 2025. Emrosi® was approved by the FDA in November 2024 and launched commercially in March 2025. Cyprium Therapeutics, Inc. recognized $0.2 million in royalty revenue on net sales of ZYCUBO®, and Fortress recognized $0.1 million in royalty income on net sales of UNLOXCYT™ in Q3 2026. In July 2026, Crystalys Therapeutics announced a $130 million Series B financing to support late-stage clinical development and commercialization of dotinurad, with Fortress’ controlled subsidiary Urica eligible for a 3% royalty on future net sales. Anselamimab (formerly CAEL-101) was approved in Japan in September 2026 for systemic kappa light chain amyloidosis, making Fortress eligible for commercial and regulatory milestone payments. Triplex is in multiple ongoing clinical trials for CMV, and a clinical trial for MB-109 in glioblastoma and astrocytoma is being considered for Q1 2027. As of September 30, 2026, Fortress’ consolidated cash and cash equivalents totaled $152.2 million, up from $79.4 million as of December 31, 2025, with $114.1 million attributable to Fortress and private subsidiaries, $1.5 million to Avenue Therapeutics, $14.3 million to Mustang Bio, and $22.3 million to Journey Medical. Consolidated net revenue for Q3 2026 was $19.2 million, with $18.9 million from marketed dermatology products, compared to $17.6 million and $17.0 million, respectively, in Q3 2025. Research and development expenses were $1.7 million for Q3 2026, up from $0.2 million in Q3 2025. Selling, general and administrative costs were $17.8 million for Q3 2026, compared to $17.4 million in Q3 2025. The consolidated net loss attributable to common stockholders was $(7.9) million, or $(0.23) per share basic and diluted, for Q3 2026, compared to net income of $3.7 million, or $0.13 per share basic and $0.11 per share diluted, for Q3 2025. As of September 30, 2026, total assets were $280,215,000 and total liabilities were $103,194,000. Stockholders’ equity attributed to the company was $159,997,000, with non-controlling interests of $17,024,000, for total stockholders’ equity of $177,021,000.