FBIO Fortress Biotech Inc.

2.69
-0.03  -1%
Previous Close 2.72
Open 2.72
52 Week Low 1.04
52 Week High 3.2
Market Cap $221,855,402
Shares 82,474,127
Float 60,045,297
Enterprise Value $204,357,625
Volume 604,114
Av. Daily Volume 866,293
Stock charts supplied by TradingView

Upcoming Catalysts

Drug Stage Catalyst Date
Intravenous (IV) tramadol
Postoperative pain following bunionectomy surgery
PDUFA
PDUFA
Premium membership is required to view catalyst dates, analyst ratings, earnings dates and cash burn data. Click here to unlock and sign up to a 14-day FREE TRIAL.
Cosibelimab (CK-301)
Cutaneous squamous cell carcinoma (CSCC)
Phase 1
Phase 1
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CEVA101
Severe Traumatic Brain Injury
Phase 2
Phase 2
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CK-101
Cutaneous Squamous Cell Carcinoma
Phase 1/2
Phase 1/2
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CUTX-101
Menkes disease
NDA Filing
NDA Filing
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MB-106
B-cell Non-Hodgkin Lymphoma & Chronic Lymphocytic Leukemia (CLL)
Phase 1
Phase 1
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CEVA101
Severe Traumatic Brain Injury
Phase 2
Phase 2
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque sapien.
MB-107
X-linked Severe Combined Immunodeficiency (XSCID)
Phase 2
Phase 2
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque sapien.
MB-207
X-linked severe combined immunodeficiency (XSCID)
Phase 2
Phase 2
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Drug Pipeline

Drug Stage Notes
MB-101
Glioblastoma
Phase 1
Phase 1
Phase 1 MBIO IND to be filed 2H 2020.
CAEL‐101
AL amyloidosis
Phase 2/3
Phase 2/3
Phase 3 trial to be initiated 2H 2020.
MB-108
Glioblastoma multiforme
Phase 1
Phase 1
Phase 1 commencement of dosing announced October 24, 2019.
MB-105
Prostate cancer
Phase 1
Phase 1
Phase 1 treatment has commenced - noted September 23, 2019.
MB-103
HER2-Positive Breast Cancer with Brain Metastases
Phase 1
Phase 1
Phase 1 trial ongoing.
MB-104
Multiple myeloma
Phase 1/2
Phase 1/2
Phase 1/2 trial to be initiated late 2019 or 2020.
Triplex
Cytomegalovirus (CMV)
Phase 2
Phase 2
Phase 3 trial to be initiated 1H 2020.

Latest News

  1. Avenue Therapeutics (ATXI), a Fortress partner company, also added

    NEW YORK, June 29, 2020 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress"), an innovative biopharmaceutical company focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates, today announced that the company has been added to the Russell 3000® index, effective after the U.S. market opens today, following Russell's annual reconstitution of its U.S. and global equity indexes.

    Annual Russell indexes' reconstitution captures the 4,000 largest U.S. stocks as of May 8, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index…

    Avenue Therapeutics (ATXI), a Fortress partner company, also added

    NEW YORK, June 29, 2020 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress"), an innovative biopharmaceutical company focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates, today announced that the company has been added to the Russell 3000® index, effective after the U.S. market opens today, following Russell's annual reconstitution of its U.S. and global equity indexes.

    Annual Russell indexes' reconstitution captures the 4,000 largest U.S. stocks as of May 8, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. FTSE Russell, a leading global index provider, determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

    Lindsay A. Rosenwald, M.D., Fortress' Chairman, President and Chief Executive Officer, said, "We are very pleased to join the Russell 3000® index, which we believe will increase the company's visibility with investors and institutions. We continuously strive to enhance stockholder value as we acquire, develop and commercialize high-potential marketed pharmaceutical products and product candidates. Together with our partner companies, Fortress Biotech currently has a robust portfolio of five marketed prescription pharmaceutical products and over 25 programs in development. We also congratulate our partner company, Avenue Therapeutics, on its inclusion in the Russell 3000® index."

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell.

    For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

    About Fortress Biotech

    Fortress Biotech, Inc. ("Fortress") is an innovative biopharmaceutical company that was recently ranked number 10 in Deloitte's 2019 Technology Fast 500™, an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors, based on percentage of fiscal year revenue growth over a three-year period. Fortress is focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates. The company has five marketed prescription pharmaceutical products and over 25 programs in development at Fortress, at its majority-owned and majority-controlled partners and at partners it founded and in which it holds significant minority ownership positions. Such product candidates span six large-market areas, including oncology, rare diseases and gene therapy, which allow it to create value for shareholders. Fortress advances its diversified pipeline through a streamlined operating structure that fosters efficient drug development. The Fortress model is driven by a world-class business development team that is focused on leveraging its significant biopharmaceutical industry expertise to further expand the company's portfolio of product opportunities. Fortress has established partnerships with some of the world's leading academic research institutions and biopharmaceutical companies to maximize each opportunity to its full potential, including Alexion Pharmaceuticals, Inc., AstraZeneca, City of Hope, Fred Hutchinson Cancer Research Center, InvaGen Pharmaceuticals Inc. (a subsidiary of Cipla Limited), St. Jude Children's Research Hospital and Nationwide Children's Hospital. For more information, visit www.fortressbiotech.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press release, the words "we", "us" and "our" may refer to Fortress individually or together with one or more partner companies, as dictated by context. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; risks relating to the timing of starting and completing clinical trials; our dependence on third-party suppliers; risks relating to the COVID-19 outbreak and its potential impact on our employees' and consultants' ability to complete work in a timely manner and on our ability to obtain additional financing on favorable terms or at all;  our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.

    Company Contacts:

    Jaclyn Jaffe and William Begien

    Fortress Biotech, Inc.

    (781) 652-4500

    Investor Relations Contact:

    Daniel Ferry

    LifeSci Advisors, LLC

    (617) 430-7576

    Media Relations Contact:

    Tony Plohoros

    6 Degrees

    (908) 591-2839

       

    Primary Logo

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  2. NEW YORK, June 15, 2020 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress"), an innovative biopharmaceutical company focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates, today announced that Lindsay Rosenwald, M.D., Chairman, President and Chief Executive Officer, will present a company overview and host one-on-one investor meetings at the Raymond James Human Health Innovation Conference. The presentation will take place on Thursday, June 18, 2020, at 11:00 a.m. EDT. The conference will be held in a virtual meeting format.

    About Fortress Biotech
    Fortress Biotech, Inc. ("Fortress") is an innovative biopharmaceutical…

    NEW YORK, June 15, 2020 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress"), an innovative biopharmaceutical company focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates, today announced that Lindsay Rosenwald, M.D., Chairman, President and Chief Executive Officer, will present a company overview and host one-on-one investor meetings at the Raymond James Human Health Innovation Conference. The presentation will take place on Thursday, June 18, 2020, at 11:00 a.m. EDT. The conference will be held in a virtual meeting format.

    About Fortress Biotech

    Fortress Biotech, Inc. ("Fortress") is an innovative biopharmaceutical company that was recently ranked number 10 in Deloitte's 2019 Technology Fast 500™, an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors, based on percentage of fiscal year revenue growth over a three-year period. Fortress is focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates. The company has five marketed prescription pharmaceutical products and over 25 programs in development at Fortress, at its majority-owned and majority-controlled partners and at partners it founded and in which it holds significant minority ownership positions. Such product candidates span six large-market areas, including oncology, rare diseases and gene therapy, which allow it to create value for shareholders. Fortress advances its diversified pipeline through a streamlined operating structure that fosters efficient drug development. The Fortress model is driven by a world-class business development team that is focused on leveraging its significant biopharmaceutical industry expertise to further expand the company's portfolio of product opportunities. Fortress has established partnerships with some of the world's leading academic research institutions and biopharmaceutical companies to maximize each opportunity to its full potential, including Alexion Pharmaceuticals, Inc., AstraZeneca, City of Hope, Fred Hutchinson Cancer Research Center, InvaGen Pharmaceuticals Inc. (a subsidiary of Cipla Limited), St. Jude Children's Research Hospital and Nationwide Children's Hospital. For more information, visit www.fortressbiotech.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press release, the words "we", "us" and "our" may refer to Fortress individually or together with one or more partner companies, as dictated by context. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; risks relating to the timing of starting and completing clinical trials; our dependence on third-party suppliers; risks relating to the COVID-19 outbreak and its potential impact on our employees' and consultants' ability to complete work in a timely manner and on our ability to obtain additional financing on favorable terms or at all;  our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.

    Company Contacts:

    Jaclyn Jaffe and William Begien

    Fortress Biotech, Inc.

    (781) 652-4500

    Investor Relations Contact:

    Daniel Ferry

    LifeSci Advisors, LLC

    (617) 430-7576

    Media Relations Contact:

    Tony Plohoros

    6 Degrees

    (908) 591-2839

    Primary Logo

    View Full Article Hide Full Article
  3. WORCESTER, Mass., June 11, 2020 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. ("Mustang") (NASDAQ:MBIO), a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced the pricing of its previously announced underwritten public offering. Mustang is offering 10,769,231 shares of its common stock, par value $0.0001 per share, at a price to the public of $3.25 per share. In connection with the offering, Mustang has also granted the underwriter a 30-day option to purchase up to an additional 1,615,384  shares of common stock offered in the public offering, at the same public offering price per…

    WORCESTER, Mass., June 11, 2020 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. ("Mustang") (NASDAQ:MBIO), a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced the pricing of its previously announced underwritten public offering. Mustang is offering 10,769,231 shares of its common stock, par value $0.0001 per share, at a price to the public of $3.25 per share. In connection with the offering, Mustang has also granted the underwriter a 30-day option to purchase up to an additional 1,615,384  shares of common stock offered in the public offering, at the same public offering price per share.

    Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering.

    The Company expects to receive gross proceeds from the offering, excluding the exercise of the underwriter's option, if any, of $35.0 million, excluding underwriting discounts and commissions and other offering-related expenses. Assuming the full exercise of the underwriter's option, gross proceeds would be $40.3 million.

    Mustang intends to use the net proceeds from the offering primarily for the continued development of its product candidates, the potential in-license, acquisition, development and commercialization of other pharmaceutical products and for general corporate purposes.

    The offering is expected to close on June 15, 2020, subject to customary closing conditions. Following the offering and assuming the full exercise of the underwriter's option, Mustang expects to have a total of approximately $90 million in cash, net of underwriting discounts but excluding other offering-related expenses.

    A shelf registration statement on Form S‐3 (File. No. 333-233350) (the "Registration Statement") relating to the shares of common stock being offered was filed with the U.S. Securities and Exchange Commission (SEC) and was declared effective on September 30, 2019. Copies of the preliminary prospectus supplement and accompanying prospectus, when available, may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by e-mail at ; or the on the SEC's website at http://www.sec.gov.

    The offering will be made only by means of a prospectus. A final prospectus supplement to the base prospectus describing the terms of the offering will be filed with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.

    About Mustang Bio

    Mustang Bio, Inc. ("Mustang") is a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases. Mustang aims to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, to fund research and development, and to outlicense or bring the technologies to market. Mustang has partnered with top medical institutions to advance the development of CAR T and CRISPR/Cas9-enhanced CAR T therapies across multiple cancers, as well as a lentiviral gene therapy for XSCID. Mustang is registered under the Securities Exchange Act of 1934, as amended, and files periodic reports with the U.S. Securities and Exchange Commission. Mustang was founded by Fortress Biotech, Inc. (NASDAQ:FBIO).

    Forward‐Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

    Company Contacts:

    Jaclyn Jaffe and William Begien

    Mustang Bio, Inc.

    (781) 652-4500



    Investor Relations Contact:

    Daniel Ferry

    LifeSci Advisors, LLC

    (617) 430-7576



    Media Relations Contact:

    Tony Plohoros

    6 Degrees

    (908) 591-2839

     

    Primary Logo

    View Full Article Hide Full Article
  4. NEW YORK, June 11, 2020 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress"), an innovative biopharmaceutical company focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates, today announced the publication of a study, "Estimated birth prevalence of Menkes disease and ATP7A-related disorders based on the Genome Aggregation Database (gnomAD)," in Molecular Genetics and Metabolism Reports. The study was published online in June 2020 and will be published in the print edition of the journal in September 2020.

    The study evaluated the prevalence of Menkes disease, an often lethal, if untreated, X-linked recessive disorder of…

    NEW YORK, June 11, 2020 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ:FBIO) ("Fortress"), an innovative biopharmaceutical company focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates, today announced the publication of a study, "Estimated birth prevalence of Menkes disease and ATP7A-related disorders based on the Genome Aggregation Database (gnomAD)," in Molecular Genetics and Metabolism Reports. The study was published online in June 2020 and will be published in the print edition of the journal in September 2020.

    The study evaluated the prevalence of Menkes disease, an often lethal, if untreated, X-linked recessive disorder of copper metabolism caused by mutations in ATP7A, an evolutionarily conserved copper-transporting ATPase. Previous estimates of Menkes disease were based on confirmed clinical cases ascertained from specific populations and varied from 1 in 40,000 to 1 in 354,507.

    Led by Stephen G. Kaler, M.D., M.P.H., a physician-scientist in the Center for Gene Therapy in the Abigail Wexner Research Institute at Nationwide Children's Hospital, the authors reviewed the canonical ATP7A transcript in the current version of gnomAD (v2.1.1) to evaluate frequencies of loss-of-function and pathogenic missense variants in a diverse normal control population. Assuming Hardy-Weinberg genetic equilibrium, the allelic frequency of loss-of-function variants suggests a minimum birth prevalence for Menkes disease of 1 in 34,810 males, higher than previously recognized. If likely pathogenic missense variants are included, the estimated birth prevalence could potentially be as high as 1 in 8,664 live male births.

    "Based on these findings, it appears that Menkes disease is under-reported in the population. This may reflect disparities in access to health care or tertiary care genetics clinics, challenges in distinguishing the Menkes phenotype from other conditions, and deaths of affected subjects before diagnosis," said Dr. Kaler, also a professor of Pediatrics and Genetics at The Ohio State University College of Medicine.

    "Our latest study suggests that a newborn screening pilot study for Menkes disease would confirm a higher than previously estimated prevalence, as we have seen with other rare inherited disorders such as Pompe disease," said Lung S. Yam, M.D., Ph.D., President and Chief Executive Officer of Cyprium. "Earlier diagnosis of Menkes disease through newborn screening would likely increase the number of Menkes disease patients identified at birth and allow for institution of early treatment during the asymptomatic phase of the condition."

    The study can be accessed here.

    About Menkes Disease and Related Copper Metabolism Disorders

    Menkes disease is a rare X-linked recessive pediatric disease caused by gene mutations of copper transporter ATP7A. Biochemically, Menkes patients have low levels of copper in their blood and brain, as well as abnormal levels of certain neurochemicals. Definitive diagnosis is typically made by sequencing the ATP7A gene. The condition is characterized by distinctive clinical features, including sparse and depigmented hair ("kinky hair"), connective tissue problems, and severe neurological symptoms such as seizures, hypotonia, and failure to thrive. Mortality is high in untreated Menkes disease, with many patients dying before the age of three. Milder versions of ATP7A mutations are associated with other conditions, including Occipital Horn Syndrome and ATP7A-related Distal Motor Neuropathy. Currently, there is no FDA-approved treatment for Menkes disease and its variants.

    About CUTX-101 (Copper Histidinate)

    CUTX-101 is in clinical development to treat patients with Menkes disease by replenishing Copper Histidinate, restoring copper homeostasis, and maintaining serum copper levels in the normal age appropriate range. CUTX-101 is a subcutaneous injectable formulation of Copper Histidinate manufactured under cGMP that is intended to improve tolerability due to physiological pH and to bypass the oral absorption of copper, which is impaired in patients with Menkes disease. In a Phase 1/2 clinical trial conducted by Stephen G. Kaler, M.D., M.P.H., at the National Institutes of Health (NIH), early treatment of patients with Menkes disease with CUTX-101 led to an improvement in neurodevelopmental outcomes and survival. A Phase 3 trial of CUTX-101 in patients with Menkes disease also led by Dr. Kaler has completed enrollment. A Cyprium-sponsored expanded access protocol for Menkes disease patients is ongoing.

    About Cyprium Therapeutics

    Cyprium Therapeutics, Inc. ("Cyprium"), is focused on the development of novel therapies for the treatment of Menkes disease and related copper metabolism disorders. In March 2017, Cyprium entered into a Cooperative Research and Development Agreement ("CRADA") with the Eunice Kennedy Shriver National Institute of Child Health and Human Development ("NICHD"), part of the National Institutes of Health (NIH), to advance the clinical development of CUTX-101 (Copper Histidinate injection) for the treatment of Menkes disease. In addition, Cyprium and NICHD entered into a worldwide, exclusive license agreement to develop and commercialize adeno-associated virus (AAV)-based gene therapy, called AAV-ATP7A, to deliver working copies of the copper transporter that is defective in Menkes patients, and to be used in combination with CUTX-101. CUTX-101 was granted U.S. Food and Drug Administration ("FDA") Fast Track and Rare Pediatric Disease Designations, and both CUTX-101 and AAV-ATP7A have received FDA Orphan Drug Designation previously. Cyprium was founded by Fortress Biotech, Inc. (NASDAQ:FBIO) and is based in New York City. For more information, visit www.cypriumtx.com.

    About Fortress Biotech

    Fortress Biotech, Inc. ("Fortress") is an innovative biopharmaceutical company that was recently ranked number 10 in Deloitte's 2019 Technology Fast 500™, an annual ranking of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors, based on percentage of fiscal year revenue growth over a three-year period. Fortress is focused on acquiring, developing and commercializing high-potential marketed pharmaceutical products and development-stage pharmaceutical product candidates. The company has five marketed prescription pharmaceutical products and over 25 programs in development at Fortress, at its majority-owned and majority-controlled partners and at partners it founded and in which it holds significant minority ownership positions. Such product candidates span six large-market areas, including oncology, rare diseases and gene therapy, which allow it to create value for shareholders. Fortress advances its diversified pipeline through a streamlined operating structure that fosters efficient drug development. The Fortress model is driven by a world-class business development team that is focused on leveraging its significant biopharmaceutical industry expertise to further expand the company's portfolio of product opportunities. Fortress has established partnerships with some of the world's leading academic research institutions and biopharmaceutical companies to maximize each opportunity to its full potential, including Alexion Pharmaceuticals, Inc., AstraZeneca, City of Hope, Fred Hutchinson Cancer Research Center, InvaGen Pharmaceuticals Inc. (a subsidiary of Cipla Limited), St. Jude Children's Research Hospital and Nationwide Children's Hospital. For more information, visit www.fortressbiotech.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press release, the words "we", "us" and "our" may refer to Fortress individually or together with one or more partner companies, as dictated by context. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; risks relating to the timing of starting and completing clinical trials; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.

    Company Contacts:

    Jaclyn Jaffe and William Begien

    Fortress Biotech, Inc.

    (781) 652-4500

    Lung Yam, M.D., Ph.D.

    Cyprium Therapeutics, Inc.

    Investor Relations Contact:

    Daniel Ferry

    LifeSci Advisors, LLC

    (617) 430-7576

    Media Relations Contact:

    Tony Plohoros

    6 Degrees

    (908) 591-2839

    Primary Logo

    View Full Article Hide Full Article
  5. WORCESTER, Mass., June 10, 2020 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. ("Mustang") (NASDAQ:MBIO), a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced that it is proposing to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. Mustang expects to grant the underwriters a 30‐day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering. All of the shares of common stock are being offered by the Company. Mustang intends to use the net proceeds from the offering primarily…

    WORCESTER, Mass., June 10, 2020 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. ("Mustang") (NASDAQ:MBIO), a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced that it is proposing to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. Mustang expects to grant the underwriters a 30‐day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering. All of the shares of common stock are being offered by the Company. Mustang intends to use the net proceeds from the offering primarily for the continued development of its product candidates, the potential in‐license, acquisition, development and commercialization of other pharmaceutical products and for general corporate purposes. The final terms of the offering will depend on market and other conditions at the time of pricing, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. 

    A shelf registration statement on Form S‐3 (File. No. 333-233350) (the "Registration Statement") relating to the shares of common stock being offered was filed with the U.S. Securities and Exchange Commission ("SEC") and was declared effective on September 30, 2019. Copies of the preliminary prospectus supplement and accompanying prospectus, when available, may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by e-mail at ; or the on the SEC's website at http://www.sec.gov.  

    The offering will be made only by means of a prospectus. A final prospectus supplement to the base prospectus describing the terms of the offering will be filed with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.

    About Mustang Bio

    Mustang Bio, Inc. ("Mustang") is a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases. Mustang aims to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, to fund research and development, and to outlicense or bring the technologies to market. Mustang has partnered with top medical institutions to advance the development of CAR T therapies across multiple cancers, as well as a lentiviral gene therapy for XSCID. Mustang is registered under the Securities Exchange Act of 1934, as amended, and files periodic reports with the U.S. Securities and Exchange Commission ("SEC"). Mustang was founded by Fortress Biotech, Inc. (NASDAQ:FBIO).

    Forward‐Looking Statements

    This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

    Company Contacts:

    Jaclyn Jaffe and William Begien

    Mustang Bio, Inc.

    (781) 652-4500

    Investor Relations Contact:

    Daniel Ferry

    LifeSci Advisors, LLC

    (617) 430-7576

    Media Relations Contact:

    Tony Plohoros

    6 Degrees

    (908) 591-2839

      

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