August 14, 2025 — Fortress Biotech, Inc. (Nasdaq: FBIO) announced its financial results and recent corporate highlights for the second quarter ended June 30, 2025. Key achievements include the acquisition of its subsidiary Checkpoint Therapeutics by Sun Pharma, FDA acceptance for priority review of CUTX-101, and the commercial launch of Emrosi™.
Lindsay A. Rosenwald, M.D., Fortress’ Chairman, President and Chief Executive Officer, highlighted the strength of Fortress’s diversified business model. The Checkpoint Therapeutics acquisition yielded approximately $28 million upfront, with potential for additional payments and royalties. The PDUFA goal date for CUTX-101 is September 30, 2025.
Mustang Bio received Orphan Drug Designation for MB-101. Journey Medical initiated the commercial launch of Emrosi™, reaching 65% of U.S. commercial lives. Recent corporate highlights include the Checkpoint Therapeutics acquisition by Sun Pharma on May 30, 2025, providing Fortress with ~$28 million and eligibility for up to $4.8 million under a contingent value right, plus a 2.5% royalty on future net sales of UNLOXCYT™ (cosibelimab-ipdl).
The FDA accepted the NDA submission for CUTX-101 for priority review, with a PDUFA goal date of September 30, 2025. Mustang received Orphan Drug Designation for MB-101 for treating recurrent diffuse and anaplastic astrocytoma and glioblastoma in July 2025.
Journey Medical’s net product revenues were $15.0 million for the second quarter, compared to $14.9 million for the same period in 2024. Emrosi’s commercial launch began on April 7, 2025, and payer access expanded to over 100 million commercial lives in the U.S.
A data analysis from Phase 3 trials evaluating Emrosi was presented at the Society of Dermatology Physician Associates 2025 Summer Dermatology Conference, supporting its FDA approval. AstraZeneca reported that anselamimab did not achieve statistical significance in its Phase III CARES program but showed clinically meaningful improvement in a subgroup.
Journey Medical joined the Russell 2000® and Russell 3000® Indexes on June 27, 2025. Fortress’ consolidated cash and cash equivalents totaled $74.4 million as of June 30, 2025, compared to $57.3 million as of December 31, 2024. Consolidated net revenue was $16.4 million for the second quarter, with $15.0 million from marketed dermatology products. Consolidated net income attributable to common stockholders was $13.4 million, or $0.50 per share basic.
Fortress Biotech is focused on acquiring and advancing assets to enhance long-term value for shareholders. The company has eight marketed prescription pharmaceutical products and multiple programs in development.
Contact: Jaclyn Jaffe, Fortress Biotech, Inc., (781) 652-4500, ir@fortressbiotech.com; Media Relations Contact: Tony Plohoros, 6 Degrees, (908) 591-2839, tplohoros@6degreespr.com
Source: Fortress Biotech
