Revenue Update on Fortress Biotech Inc(NASDAQ:FBIO)

Fortress Biotech Inc(NASDAQ:FBIO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Earnings per share were $-0.31.

Fortress Biotech Inc (FBIO) made into the market gainers list on Wednesdays trading session with the shares advancing 3.25% or 0.09 points. Due to strong positive momentum, the stock ended at $2.86, which is also near the day’s high of $2.91. The stock began the session at $2.79 and the volume stood at 67,680 shares. The 52-week high of the shares is $4.66 and the 52 week low is $2. The company has a current market capitalization of $139 M and it has 4,86,68,630 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 17, 2016, Lindsay A Md Rosenwald (CEO) purchased 613 shares at $2.40 per share price.

Fortress Biotech Inc. formerly Coronado Biosciences Inc. is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer namely CNDO-201 or Trichuris suis ova (TSO) and CNDO-109. As of December 31 2014 TSO the microscopic eggs of the porcine whipworm was in Phase II study stage for the treatment of immune-mediated diseases such as Crohn’s disease (CD) ulcerative colitis (UC) or autism spectrum disorder (ASD). The Company’s CNDO-109 is a biologic that activates natural killer (NK) cells of the immune system to seek and destroy cancer cells and as of December 31 2014 was in Phase I/II clinical trial for the treatment of acute myeloid leukemia (AML). The Company’s subsidiary Journey Medical Corporation (JMC) focuses on acquiring developing licensing and commercializing branded dermatology products.

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