Fortress Biotech Q3 net revenue rises, driven by dermatology sales
FBIO•Fortress Biotech's third-quarter net revenue rose 9% year over year to $19.2 million, driven mainly by dermatology sales. The company reported an $8.25 million net loss, compared with a profit a year earlier, and repaid its $15 million credit facility.
1. Revenue and loss
Fortress Biotech said third-quarter net revenue increased 9% year over year to $19.2 million, mainly on higher sales of marketed dermatology products through Journey Medical. The company posted a net loss of $8.25 million, reversing a profit in the year-earlier quarter.
2. Sales and debt
Journey Medical reported about 40,000 Emrosi prescriptions in the quarter, supported by an improved reimbursement mix. Fortress cited growing royalty income from ZYCUBO and UNLOXCYT as additional contributors, and said it repaid its $15 million credit facility, leaving no parent-level debt.
