Fortress Biotech Q1 net income $108.4 million on $205 million PRV sale gain
Fortress Biotech reported first-quarter 2026 net income attributable to common stockholders of $108.4 million, or $2.82 per diluted share, compared with a net loss of $12.7 million a year earlier. The result was driven mainly by the sale of a Rare Pediatric Disease Priority Review Voucher by subsidiary Cyprium for $205 million gross proceeds, while net revenue rose to $16.0 million from $13.1 million.
Key points
- Net revenue was $16.0 million for Q1 2026, up from $13.1 million in Q1 2025, with $15.9 million from Journey Medical's dermatology products.
- Gain on sale of priority review voucher, net of expenses, was $158.9 million, according to the statement of operations.
- Loss from operations narrowed to $7.7 million from $22.3 million a year earlier.
- Cash and cash equivalents were $255.8 million at March 31, 2026, up from $79.4 million at December 31, 2025, and the Oaktree loan principal was reduced to $15.0 million.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 14, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.