Fortress Biotech, Inc. · NASDAQ:FBIO
Fortress Biotech — Investor Presentation (September 2026)
28 slides from Fortress Biotech's investor presentation, September 2026
Slide 1: Fortress Biotech Corporate Presentation
FORTRESS BIOTECH CORPORATE PRESENTATION September 2026
Slide 2: Forward Looking Statements
2 FORWARD LOOKING STATEMENTS This presentation may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For such forward-looking statements, we claim the protection of the
Slide 3: Fortress Biotech Overview
3 FORTRESS BIOTECH FORTRESS BIOTECH OVERVIEW
Slide 4: Recent highlights
Fortress Biotech Overview 4 Recent highlights NDA approval (ZYCUBO) – January 2026 Urica partner Crystalys Series B financing – July 2026 • Cyprium Therapeutics announced NDA approval for ZYCUBO (copper histidinate, formerly • In 2024, Urica Therapeutics sold dotinurad (URAT1 inhibitor) to Crystalys
Slide 5: Fortress Biotech is a revenue-generating life sciences company
Fortress Biotech Overview 5 STRATEGIC PORTFOLIO BUSINESS DEVELOPMENT Fortress Biotech is a revenue- Commercial dermatology portfolio Focus on acquiring and developing generating life sciences and mid-to-late-stage clinical candidates across various therapeutic clinical stage candidates with proof-of
Slide 6: Portfolio overview
Fortress Biotech Overview 6 Portfolio overview 3 14 9 9 FDA approvals received since Q4’24 8 clinical and 6 preclinical candidates FDA approved and marketed Subsidiaries and partner companies across therapeutic areas including dermatology products; $61M in 2025 oncology and rare disease product reve
Slide 7: Development pipeline and commercial portfolio
7 Development pipeline and commercial portfolio Therapeutic Area Asset Indication Pre-clinical Phase 1 Phase 2 Phase 3 Registration Marketed Status Emrosi Inflammatory lesions of rosacea ✓ ✓ ✓ ✓ ✓ ✓ Mktd / NDA approved Nov. 2024 Qbrexza® Primary axillary hyperhidrosis (excessive sweating) ✓ ✓ ✓ ✓ ✓
Slide 8: Fortress anticipates achieving several milestones in the near future
Fortress Biotech Overview 8 Fortress anticipates achieving several milestones in the near future Potential Peak Partner Company Asset 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030+ Sales (Global) Current commercial dermatology portfolio $63.1M $71.0M $59.7M $55.1M $61.2M Product revenue Product
Slide 9: Late-Stage Portfolio: multiple near-term value inflection points
Fortress Biotech Overview 9 Late-Stage Portfolio: multiple near-term value inflection points Potential Peak Sales* Candidate Indication(s) Phase 1 Phase 2 Pivotal / Phase 3 Status / Upcoming Anticipated Milestones FBIO Ownership % / Royalty† (Global) Emrosi (DFD-29) Approved by the FDA in Nov. 2024
Slide 10: Early-to-Mid Stage Portfolio: impactful pipeline for high unmet need areas
Fortress Biotech Overview 10 Early-to-Mid Stage Portfolio: impactful pipeline for high unmet need areas Potential Peak Candidate Indication(s) Preclinical Phase 1 Phase 2 Phase 3 Status / Upcoming Anticipated Milestones FBIO Ownership % / Royalty† Sales* (Global) ATX-04 13% of ATXI 2.5% Annual Equit
Slide 11: Early-to-Mid Stage Portfolio: impactful pipeline for high unmet need areas
Fortress Biotech Overview 11 Early-to-Mid Stage Portfolio: impactful pipeline for high unmet need areas Potential Peak Candidate Indication(s) Preclinical Phase 1 Phase 2 Phase 3 Status / Upcoming Anticipated Milestones FBIO Ownership % / Royalty† Sales* (Global) FB-606 Duchenne Muscular Potential P
Slide 12: Select Pipeline Details
12 FORTRESS BIOTECH SELECT PIPELINE DETAILS
Slide 13: Unloxcyt
Fortress Biotech Pipeline 13 Unloxcyt Anti-PD-L1 mAb for treatment of metastatic and locally advanced cSCC ASSET OVERVIEW FDA approved BLA in Dec. 2024 First and only programmed death ligand-1 (“PD-L1”) blocking antibody to receive FDA marketing STATUS Acquisition of Checkpoint Therapeutics by Sun P
Slide 14: Emrosi
Fortress Biotech Pipeline 14 Emrosi Minocycline hydrochloride extended-release capsules, 40mg for treatment of inflammatory lesions of rosacea ASSET OVERVIEW 16.5M people in the U.S. alone suffer from Rosacea, EST. MARKET representing ~5% of the population1 Best-in-class oral therapy for inflammator
Slide 15: Zycubo
Fortress Biotech Pipeline 15 Zycubo® Subcutaneous injectable formulation of Copper Histidinate for patients with Menkes Disease ASSET OVERVIEW Estimated 50-225+ patients per year with Menkes in the EST. MARKET US1 alone The first and only FDA-approved treatment for Menkes Disease, a rare, often fata
Slide 16: Anselamimab / CAEL-101
Fortress Biotech Pipeline 16 Anselamimab / CAEL-101* Monoclonal antibody (mAb) for the treatment of patients with amyloid light chain (“AL”) amyloidosis ASSET OVERVIEW 30K to 45K patients in U.S. and EU with ~4.5K newly- EST. MARKET diagnosed patients (U.S.) per year Granted Orphan Drug designations
Slide 17: Dotinurad
Fortress Biotech Pipeline 17 FUJI YAKUHIN Dotinurad URAT1 inhibitor for gout ASSET OVERVIEW U.S. initial addressable market of 2-3 million refractory EST. MARKET gout patients Demonstrated to be an efficacious oral therapy for lowering serum uric acid levels (sUA) with excellent safety profile from
Slide 18: Triplex
Fortress Biotech Pipeline 18 Triplex Universal multi-antigen MVA-based immunotherapy for the treatment of CMV in solid organ transplants and hematopoietic stem cell transplants, Non-Hodgkin lymphoma and HIV ASSET OVERVIEW Solid Organ Transplant - ~59K pts/year, Hematopoietic EST. MARKET Stem Cell Tr
Slide 19: MB-109
Fortress Biotech Pipeline 19 MB-109 IL13Rα2 CAR-T + HSV-1 Oncolytic Virus for Glioblastoma and High-Grade Astrocytoma ASSET OVERVIEW EST. MARKET U.S. incidence of 12K MB-101 + MB-108 combination is designed to turn the tumor microenvironment “hot”, which may improve the efficacy of CAR-T cell therap
Slide 20: Business Model Detail
20 FORTRESS BIOTECH BUSINESS MODEL DETAIL
Slide 21: Strategic plan to generate near-term cash flow and long-term value
Fortress Biotech Model 21 01. 02. 03. ACQUISITIONS ROYALTIES EQUITY Continue to expand portfolio by Generate 4.5% royalties Generate 2.5% equity acquiring, developing, and from majority of existing product dividend from majority of existing Strategic plan to commercializing new clinical candidates c
Slide 22: Market inefficiencies create opportunities / Use of AI increases efficiency
Fortress Biotech Model 22 Market inefficiencies create opportunities / Use of AI increases Fortress Business Development efficiency $350bn+ industry spend on 14,500 clinical candidates in 46 and 50 novel drugs approved by life sciences R&D* development globally** the FDA in 2025 and 2024^ Clinical S
Slide 23: Recent portfolio milestones
Fortress Biotech Model 23 Recent portfolio milestones Jul. 2026 Dotinurad: Crystalys announces $130M Series B financing to further the development of dotinurad LATE-STAGE AND REGULATORY EXECUTION Zycubo: NDA approved for the treatment of Menkes Disease. FDA granted Priority Review Voucher (PRV), Jan
Slide 24: Fortress believes shareholders will benefit from potential near-term catalysts
Fortress Biotech Model 24 Fortress believes shareholders will benefit from potential near-term catalysts Category Company Asset Anticipated Milestone Anticipated Timing Checkpoint* Corporate o Acquired by Sun Pharma in May 2025, Fortress to receive 2.5% royalty on net sales of Unloxcyt 2026+ o Sold
Slide 25: Management Team
Fortress Biotech Model 25 Management Team Fortress Lindsay Co-founder of Cougar Biotechnology (acquired by JNJ), Chelsea Therapeutics (acquired by Lundbeck), Indevus Pharma Chairman & CEO Rosenwald, MD (acquired by Endo). Additionally co-founded Biocryst, Keryx, and CorMedix Fortress Mike Current CE
Slide 26: Partnerships with leading academic institutions, global pharmaceuticals
Fortress Biotech Model 26 ACADEMIC INSTITUTIONS Partnerships with leading academic GLOBAL PHARMACEUTICALS institutions, global pharmaceuticals, FUJI YAKUHIN and research and treatment centers RESEARCH & TREATMENT CENTERS
Slide 27: Fortress supports and collaborates with subsidiary and partner companies
Fortress Biotech Model 27 Fortress supports and collaborates with subsidiary and partner companies FORTRESS PORTFOLIO Fortress provides all business development efforts including active identification of synergistic portfolio assets Fortress provides ongoing operational, strategic, administrative an
Slide 28: Thank you!
WN FORTRESS BIOTECH Thank you! FORTRESS BIOTECH
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