Quarterly ResultMay 14, 2026, 04:12 PM
Fortress Biotech Q1 Net Income $108.4M; ZYCUBO® FDA Approved, PRV Sold for $205M
AI Summary
Fortress Biotech announced strong financial results for Q1 2026, with consolidated net income attributable to common stockholders reaching $108.4 million, or $2.82 diluted EPS, a significant improvement from a net loss in the prior year. This was largely driven by the FDA approval of ZYCUBO® for Menkes disease and the subsequent sale of its Rare Pediatric Disease Priority Review Voucher for $205 million by its subsidiary Cyprium Therapeutics. The company also strengthened its balance sheet by reducing its outstanding debt with Oaktree to $15.0 million and expanded its pipeline with Avenue's acquisition of ATX-04 for Pompe disease.
Key Highlights
- ZYCUBO® approved by FDA for Menkes disease in January 2026.
- Cyprium Therapeutics sold its Rare Pediatric Disease Priority Review Voucher for $205 million.
- Consolidated net income attributable to common stockholders for Q1 2026 was $108.4 million.
- Diluted EPS for Q1 2026 was $2.82, compared to $(0.48) in Q1 2025.
- Consolidated net revenue for Q1 2026 was $16.0 million, up from $13.1 million in Q1 2025.
- Cash and cash equivalents increased to $255.8 million as of March 31, 2026, from $79.4 million.
- Outstanding principal with Oaktree reduced to $15.0 million through debt prepayments.
- Journey Medical's Emrosi® payer access expanded to over 150 million commercial lives (85% of US).