Overview

* Fortress Biotech ( FBIO ) Q3 net revenue rises 20.5% yr/yr

* Fortress receives $28 mln from Checkpoint sale, eligible for more payments

* Net income for Q3 improves from loss to profit yr/yr

Outlook

* Fortress anticipates resubmitting the NDA for CUTX-101 soon

* Company expects potential CVR payment up to $4.8 mln from Checkpoint sale

* Fortress highlights advancement of dotinurad in Phase 3 trials for gout

Result Drivers

* CHECKPOINT SALE - Fortress received $28 mln from Checkpoint sale, with potential for additional payments and royalties

* EMROSI LAUNCH - Successful launch of Emrosi supported by expanded payer coverage and Phase 3 data

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

9M $17.02

Revenue mln

9M Net

Income $3.7

mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for Fortress Biotech Inc ( FBIO ) is $10.50, about 76.3% above its November 13 closing price of $2.49

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)