Business
Fortress Biotech Reports Record Second Quarter 2021 Financial Results and Recent Corporate Highlights
Net revenue for second quarter of 2021 increased 89% year-over-year to $17.8 million, a quarterly record Rolling NDA submission for CUTX-101 for the treatment
About this update from Fortress Biotech, Inc.
[{"type":"text","content":"Net revenue for second quarter of 2021 increased 89% year-over-year to $17.8 million, a quarterly record Rolling NDA submission for CUTX-101 for the treatment of Menkes disease expected to begin in the second half of 2021 On track to report top-line results from registration-enabling study of cosibelimab in metastatic cutaneous squamous cell carcinoma by year-end 2021 NEW YORK, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress”), an innovative biopharmaceutical company focused on acquiring, developing and commercializing or monetizing promising biopharmaceutical products and product candidates cost-effectively, today announced financial results and recent corporate highlights for the second quarter ended June 30, 2021. Lindsay A. Rosenwald, M.D., Fortress’ Chairman, President and Chief Executive Officer, said, “We generated significant sales momentum in the second quarter, recording quarterly record net revenues of $17.8 million, an 89% increase year-over-year. We also successfully acquired and recently launched QBREXZA® to further expand our portfolio of marketed products, as well as in-licensed Dotinurad, DFD-29, and a novel CAR T technology, which enhance our robust pipeline of drug candidates. In addition, we presented compelling clinical data for CAEL-101 for the treatment of AL amyloidosis and MB-106 for relapsed or refractory B-cell non-Hodgkin lymphomas (“B-NHL”) and chronic lymphocytic leukemia (“CLL”) at the European Hematology Association 2021 Virtual Congress (“EHA2021”). Looking ahead, we anticipate several additional regulatory and clinical catalysts throughout the remainder of 2021, including the availability of pivotal data from cosibelimab for the treatment of metastatic cutaneous squamous cell carcinoma. We also expect to begin the rolling New Drug Application (“NDA”) submission for CUTX-101 for the treatment of Menkes disease in the second half of 2021.” Dr. Rosenwald continued, “We have an expanding portfolio of seven marketed dermatology products and more than 25 product candidates across our partner companies, including 18 clinical programs and 24 clinical trials, of which four are pivotal clinical trials, and up to four more could potentially be pivotal soon. Our diversified business model is supported by a world-class business development team. Fortress and our partner com...