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FBIO

Fortress Biotech

$2.13

-0.185 (-7.99%)

16:26
08/09/18
08/09
16:26
08/09/18
16:26

Fortress Biotech reports Q2 EPS (50c), consensus (59c)

As of June 30, Fortress' consolidated cash, cash equivalents, short-term investments, cash deposits with clearing organizations and restricted cash totaled $151.8M. The company said, "During the second quarter, our Fortress Company subsidiaries reported significant value-driving milestones, including positive Phase 3 data from Avenue Therapeutics' IV tramadol, which, if approved, would be the only Schedule IV intravenous opioid in the U.S. and could replace highly addictive Schedule II narcotics in many patients with moderate to moderately severe postoperative pain. Additionally, Cyprium Therapeutics was granted FDA Fast Track Designation for its CUTX-101 Copper Histidinate injection in patients with Menkes disease, a rare pediatric disease with no FDA-approved treatments. Also during the quarter, Mustang Bio expanded its infrastructure with the launch of a proprietary 27,000 sq. ft. CAR T cell manufacturing facility that will enable us to oversee product safety from needle-to-needle and help improve supply chain efficiencies from clinical development into commercialization. We believe in the value proposition represented by our company and strive to protect the best interests of our shareholders and those of our subsidiaries. As we continue to build long-term value, our novel and efficient business model provides benefits for all stakeholders and offers unique synergies not typical of traditional biopharma companies."

  • 04

    Sep

FBIO Fortress Biotech
$2.13

-0.185 (-7.99%)

02/28/18
02/28/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dell Technologies (DVMT) initiated with a Buy at Deutsche Bank and an Outperform at Wells Fargo. 2. Procter & Gamble (PG) initiated with a Sell at Berenberg. 3. Surmodics (SRDX) initiated with a Buy at Needham. 4. Fortress Biotech (FBIO) initiated with a Buy at B. Riley FBR. 5. Madrigal Pharmaceuticals (MDGL) initiated with an Outperform at Cowen. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/18
HCWC
03/27/18
NO CHANGE
Target $11
HCWC
Buy
H.C. Wainwright sees positive Phase 3 data for Fortress Biotech
H.C. Wainwright analyst Joseph Pantginis says additional Phase 1b analysis shows Fortress Biotech's CAEL-101 administration improves heart function. Caelum, a Fortress subsidiary, presented a new analysis of data from the Phase 1b trial of CAEL-101 for the treatment of amyloid light chain amyloidosis, the analyst writes in a research note. He believes these data should translate to a positive Phase 3, which he thinks should begin this year. The analyst stays bullish on Fortress Biotech with a Buy rating and $11 price target.
05/21/18
HCWC
05/21/18
NO CHANGE
Target $11
HCWC
Buy
Fortress subsidiary met endpoint in Phase 3 trial, says H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis says Fortress Biotech (FBIO) subsidiary Avenue Therapeutics (ATXI) announced this morning that its pivotal Phase 3 trial of IV tramadol achieved the primary endpoint in patients with moderate to moderately severe postoperative pain following bunionectomy surgery as well as important secondary endpoints. IV tramadol has the potential to be the first Schedule IV opioid in the U.S., and could be an important addition to pain treatments, Pantginis tells investors in a research note. The analyst currently projects $175M in peak sales, which he believes could be conservative based on the drug's profile. He reiterates a Buy rating on Fortress Biotech with an $11 price target.
05/21/18
JMPS
05/21/18
NO CHANGE
JMPS
Fortress subsidiary's positive Phase III data encouraging, says JMP Securities
JMP Securities analyst Konstantinos Aprilakis believes Fortress Biotech subsidiary Avenue Therapeutics' positive top-line Phase III data for intravenous tramadol is encouraging, and further believes that IV tramadol may provide a bridge to oral tramadol and has the potential to displace Schedule II narcotics altogether for many patients. Aprilakis reiterated a Market Outperform rating and $11 price target on Fortress Biotech shares.

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