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General information

Country: UNITED STATES

Sector: Biotechnology

Fortress Biotech, Inc. develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Targadox for acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; Ximino to treat inflammatory lesions of severe acne vulgaris. It also develops MB-107, a gene therapy for X-linked severe combined immunodeficiency; CAEL-101, a Phase Ia/Ib trial product that reduces amyloid deposits in the tissues and organs; MB-102, a chimeric antigen receptor engineered T-cell (CAR T) program for acute myeloid leukemia; MB-106, a CAR T program for B cell non-Hodgkin lymphoma; and CS1 CAR T for multiple myeloma and light chain amyloidosis. In addition, the company develops MB-101 for Glioblastoma multiform (GBM); MB-103 for GBM, and breast cancer and brain metastases; MB 108 for GBM; MB-105 for prostate and pancreatic cancers; intravenous Tramadol for post-operative pain; CK-101 that is in Phase I/II clinical trial for treating patients with EGFR mutation-positive non-small cell lung cancer; Cosibelimab for metastatic cancer; Triplex, a Phase I study recombinant modified vaccinia ankara viral vector vaccine; ConVax, a recombinant modified vaccinia ankara viral vector vaccine; CEVA-101 for traumatic brain injury; CEVA-D, a bioreactor device that enhances the anti-inflammato...
Website: fortressbiotech.com



Growth: Good revenue growth rate 25.0%, there is slowdown compared to average historical growth rates 33.8%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is negative, -181.0%. On average the margin is decreasing steadily. Gross margin is high, +68.0%.

Cash Flow Generation: Dividend yield for the last twelve months 14.1%. Free cash flow yield -17.8% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 73.2% higher than minimum and 47.8% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued -5.7x by EV / Sales multiple

Key Financials (Download financials)

Ticker: FBIOP
Share price, USD:  (0.0%)13.82
year average price 14.38  


year start price 18.35 2023-05-01

max close price 18.82 2023-05-11

min close price 7.98 2023-08-17

current price 13.82 2024-04-29
Common stocks: 8 110 906

Dividend Yield:  14.1%
Last revenue growth (y/y):  25.0%
Last growth of EBITDA (y/y):  ---
Historical revenue growth:  33.8%
Historical growth of EBITDA:  16.7%
EV / Sales: 1.2x
Margin (EBITDA LTM / Revenue): -181.0%
Fundamental value created in LTM:
Market Cap ($m): 112
Net Debt ($m): -15
EV (Enterprise Value): 97
Price to Book: 5.0x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3 2022 q2
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30
symbol FBIOP FBIOP FBIOP FBIOP FBIOP FBIOP FBIOP
reportedCurrency USD USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-28 2023-09-30 2023-08-14 2023-05-15 2023-03-31 2022-11-14 2022-08-11
acceptedDate 2024-03-28 16:49:36 2023-09-29 20:00:00 2023-08-14 16:16:03 2023-05-15 16:16:26 2023-03-31 16:05:28 2022-11-14 16:16:37 2022-08-11 16:08:08
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3 Q2
revenue 20M 35M 17M 12M 16M 17M 19M
costOfRevenue 6M 6M 8M 6M 8M 7M 8M
grossProfit 14M 28M 10M 6M 9M 9M 11M
grossProfitRatio 0.680 0.815 0.553 0.481 0.530 0.563 0.596
researchAndDevelopmentExpenses 14M 20M 32M 40M 35M 30M 33M
generalAndAdministrativeExpenses 0 0 0 0 0 0 0
sellingAndMarketingExpenses 0 0 0 0 0 0 0
sellingGeneralAndAdministrativeExpenses 19M 22M 24M 25M 28M 30M 29M
otherExpenses -1M 620 000 395 000 -351 000 -635 000 -669 000 0
operatingExpenses 33M 42M 57M 64M 63M 59M 62M
costAndExpenses 40M 49M 64M 71M 70M 67M 70M
interestIncome 707 000 547 000 715 000 1M 687 000 419 000 150 000
interestExpense 2M 2M 5M 3M 3M 3M 3M
depreciationAndAmortization 2M 3M 1M 2M 2M 2M 2M
ebitda -18M -10M -46M -56M -52M -48M -17M
ebitdaratio -0.900 -0.302 -2.640 -4.507 -3.197 -2.896 -0.876
operatingIncome -20M -14M -50M -59M -54M -50M -51M
operatingIncomeRatio -0.986 -0.396 -2.882 -4.708 -3.292 -3.029 -2.696
totalOtherIncomeExpensesNet -9M 5M -7M 3M -3M -3M -3M
incomeBeforeTax -29M -11M -59M -55M -57M -53M -54M
incomeBeforeTaxRatio -1.434 -0.305 -3.411 -4.437 -3.475 -3.210 -2.856
incomeTaxExpense 379 000 141 000 -29M -33M 449 000 -31M 0
netIncome -9M -5M -25M -22M -57M -23M -21M
netIncomeRatio -0.465 -0.145 -1.425 -1.779 -3.502 -1.363 -1.131
eps -0.610 -10.090 -3.360 -0.220 -0.650 -0.250 -0.240
epsdiluted -0.610 -10.090 -3.360 -0.220 -0.650 -0.250 -0.240
weightedAverageShsOut 15M 499 910 7M 102M 89M 89M 89M
weightedAverageShsOutDil 15M 499 910 7M 102M 89M 89M 89M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3 2022 q2
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30
symbol FBIOP FBIOP FBIOP FBIOP FBIOP FBIOP FBIOP
reportedCurrency USD USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-28 2023-09-30 2023-08-14 2023-05-15 2023-03-31 2022-11-14 2022-08-11
acceptedDate 2024-03-28 16:49:36 2023-09-29 20:00:00 2023-08-14 16:16:03 2023-05-15 16:16:26 2023-03-31 16:05:28 2022-11-14 16:16:37 2022-08-11 16:08:08
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3 Q2
cashAndCashEquivalents 81M 72M 78M 152M 178M 208M 249M
shortTermInvestments 0 0 0 0 0 0 0
cashAndShortTermInvestments 81M 72M 78M 152M 178M 208M 249M
netReceivables 15M 8M 17M 28M 28M 29M 29M
inventory 10M 11M 12M 13M 14M 15M 16M
otherCurrentAssets 11M 6M 7M 8M 10M 6M 5M
totalCurrentAssets 117M 98M 128M 202M 230M 258M 299M
propertyPlantEquipmentNet 23M 24M 25M 32M 33M 34M 32M
goodwill 0 0 0 0 0 0 0
intangibleAssets 20M 21M 22M 26M 27M 28M 29M
goodwillAndIntangibleAssets 20M 21M 22M 26M 27M 28M 29M
longTermInvestments 2M 2M 2M 0 0 0 0
taxAssets 0 -2M -2M 0 0 0 0
otherNonCurrentAssets 4M 7M 6M 3M 4M 4M 3M
totalNonCurrentAssets 51M 53M 53M 61M 64M 66M 65M
otherAssets 0 0 0 0 0 0 0
totalAssets 168M 151M 181M 264M 294M 324M 364M
accountPayables 35M 45M 49M 66M 57M 56M 54M
shortTermDebt 9M 5M 15M 10M 13M 11M 10M
taxPayables 843 000 84 000 0 722 000 1M 0 345 000
deferredRevenue 843 000 37M 51M 547 000 728 000 1M 1M
otherCurrentLiabilities 40M 10M 15M 53M 57M 38M 40M
totalCurrentLiabilities 85M 97M 129M 129M 128M 106M 105M
longTermDebt 61M 65M 66M 112M 115M 114M 109M
deferredRevenueNonCurrent 0 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0 0 0 0
otherNonCurrentLiabilities 20M 2M 2M 2M 2M 48M 2M
totalNonCurrentLiabilities 81M 66M 68M 114M 117M 116M 111M
otherLiabilities 1.000 0 0 0 0 0 0
capitalLeaseObligations 18M 21M 22M 24M 24M 24M 22M
totalLiabilities 166M 164M 197M 244M 244M 222M 216M
preferredStock 3000.000 3000.000 3000.000 3000.000 3000.000 3000.000 3000.000
commonStock 15 000 9000.000 155 000 130 000 110 000 108 000 108 000
retainedEarnings -695M -686M -681M -656M -634M -607M -585M
accumulatedOtherComprehensiveIncomeLoss -15 000 0 -3000.000 0 0 0 0
othertotalStockholdersEquity 717M 702M 699M 693M 676M 669M 662M
totalStockholdersEquity 23M 17M 19M 38M 42M 62M 77M
totalEquity 2M -13M -16M 20M 42M 62M 77M
totalLiabilitiesAndStockholdersEquity 168M 151M 181M 264M 294M 324M 293M
minorityInterest -21M -30M -34M -18M 8M 0 0
totalLiabilitiesAndTotalEquity 168M 151M 181M 264M 294M 324M 293M
totalInvestments 2M 2M 2M 0 0 0 0
totalDebt 89M 70M 81M 123M 127M 125M 119M
netDebt 8M -2M 3M -30M -51M -83M -130M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3 2022 q2
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30
symbol FBIOP FBIOP FBIOP FBIOP FBIOP FBIOP FBIOP
reportedCurrency USD USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-28 2023-09-30 2023-08-14 2023-05-15 2023-03-31 2022-11-14 2022-08-11
acceptedDate 2024-03-28 16:49:36 2023-09-29 20:00:00 2023-08-14 16:16:03 2023-05-15 16:16:26 2023-03-31 16:05:28 2022-11-14 16:16:37 2022-08-11 16:08:08
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3 Q2
netIncome -9M -11M -59M -55M -57M -53M -54M
depreciationAndAmortization 2M 3M 1M 2M 3M 2M 2M
deferredIncomeTax -21M -5M 10M 0 0 0 0
stockBasedCompensation 4M 4M 4M 5M 6M 7M 5M
changeInWorkingCapital -18M -8M 8M 6M 1M -267 000 4M
accountsReceivables -7M 9M 10M 466 000 51 000 83 000 2M
inventory 818 000 1M 1M 881 000 1M 823 000 84 000
accountsPayables -7M -17M -4M 5M 4M 0 0
otherWorkingCapital -4M -784 000 549 000 25 000 -4M -1M -577 000
otherNonCashItems 8M 76 000 3M -1M 490 000 874 000 1M
netCashProvidedByOperatingActivities -35M -17M -33M -43M -48M -43M -41M
investmentsInPropertyPlantAndEquipment -63 000 -1M -34 000 0 -391 000 -1M -307 000
acquisitionsNet 0 6M 5M -5M 20M 0 0
purchasesOfInvestments 0 0 0 0 0 0 0
salesMaturitiesOfInvestments 0 0 0 0 0 0 0
otherInvestingActivites -35 000 5M -7M 0 -20M 127 000 0
netCashUsedForInvestingActivites -63 000 5M -2M -5M -391 000 -893 000 -307 000
debtRepayment -15M -10M -43M -28M -2M 0 0
commonStockIssued 32M 10M 15M 24M 18M 2M 5M
commonStockRepurchased -400 000 90 000 88 000 0 -1M 0 0
dividendsPaid -2M -2M -2M -2M -2M -2M -2M
otherFinancingActivites 97 000 -979 000 -5000.000 29M 6M 4M 193 000
netCashUsedProvidedByFinancingActivities 44M -3M -30M 22M 19M 4M 3M
effectOfForexChangesOnCash -2M 0 0 0 0 0 0
netChangeInCash 6M -14M -66M -26M -30M -40M -39M
cashAtEndOfPeriod 81M 75M 89M 155M 181M 211M 251M
cashAtBeginningOfPeriod 75M 89M 155M 181M 211M 251M 290M
operatingCashFlow -35M -17M -33M -43M -48M -43M -41M
capitalExpenditure -63 000 -1M -34 000 0 -391 000 -1M -307 000
freeCashFlow -35M -18M -33M -43M -48M -44M -42M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

SEC forms

Show financial reports only

SEC form 10
2024-03-28 00:00 ET
Fortress Biotech reported for 2023 q4
SEC form 10
2023-11-14 00:00 ET
Fortress Biotech reported for 2023 q3
SEC form 8
2023-11-14 00:00 ET
Fortress Biotech published news for 2023 q3
SEC form 10
2023-08-14 00:00 ET
Fortress Biotech reported for 2023 q2
SEC form 8
2023-08-14 00:00 ET
Fortress Biotech published news for 2023 q2
SEC form 8
2023-05-15 00:00 ET
Fortress Biotech reported for 2023 q1
SEC form 10
2023-05-15 00:00 ET
Fortress Biotech published news for 2023 q1
SEC form 6
2023-04-13 16:05 ET
Fortress Biotech published news for 2023 q1
SEC form 10
2023-03-31 16:05 ET
Fortress Biotech reported for 2022 q4
SEC form 10
2023-03-31 00:00 ET
Fortress Biotech reported for 2022 q4
SEC form 6
2023-03-30 17:28 ET
Fortress Biotech published news for 2022 q4
SEC form 8
2023-03-30 00:00 ET
Fortress Biotech reported for 2022 q4
SEC form 6
2023-03-13 17:28 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-03-03 16:55 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-02-09 17:03 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-06 18:40 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-06 17:57 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-04 21:27 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-04 21:26 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-04 21:25 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-04 21:25 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-04 21:24 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-04 21:24 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2023-01-04 21:23 ET
Fortress Biotech published news for 2022 q4
SEC form 6
2022-12-19 08:49 ET
Fortress Biotech published news for 2022 q3
SEC form 6
2022-12-19 08:26 ET
Fortress Biotech published news for 2022 q3
SEC form 6
2022-11-14 17:02 ET
Fortress Biotech published news for 2022 q3
SEC form 10
2022-11-14 16:16 ET
Fortress Biotech reported for 2022 q3
SEC form 10
2022-11-14 00:00 ET
Fortress Biotech reported for 2022 q3
SEC form 8
2022-11-14 00:00 ET
Fortress Biotech reported for 2022 q3
SEC form 6
2022-11-04 16:06 ET
Fortress Biotech published news for 2022 q3
SEC form 6
2022-10-28 16:58 ET
Fortress Biotech published news for 2022 q3
SEC form 6
2022-10-24 08:00 ET
Fortress Biotech published news for 2022 q3
SEC form 6
2022-08-25 16:02 ET
Fortress Biotech published news for 2022 q2
SEC form 6
2022-08-11 16:46 ET
Fortress Biotech published news for 2022 q2
SEC form 10
2022-08-11 16:08 ET
Fortress Biotech reported for 2022 q2
SEC form 8
2022-08-11 00:00 ET
Fortress Biotech reported for 2022 q2
SEC form 10
2022-08-11 00:00 ET
Fortress Biotech reported for 2022 q2
SEC form 6
2022-07-22 16:01 ET
Fortress Biotech published news for 2022 q2
SEC form 6
2022-07-11 16:00 ET
Fortress Biotech published news for 2022 q2
SEC form 6
2022-06-27 16:52 ET
Fortress Biotech published news for 2022 q1
SEC form 10
2022-05-12 16:18 ET
Fortress Biotech reported for 2022 q1
SEC form 6
2022-05-12 16:16 ET
Fortress Biotech published news for 2022 q1
SEC form 10
2022-05-12 00:00 ET
Fortress Biotech reported for 2022 q1
SEC form 8
2022-05-12 00:00 ET
Fortress Biotech reported for 2022 q1
SEC form 6
2022-04-29 17:37 ET
Fortress Biotech published news for 2022 q1
SEC form 6
2022-04-20 17:00 ET
Fortress Biotech published news for 2022 q1
SEC form 10
2022-03-28 16:06 ET
Fortress Biotech published news for 2021 q4
SEC form 6
2022-03-28 08:16 ET
Fortress Biotech published news for 2021 q4
SEC form 10
2022-03-28 00:00 ET
Fortress Biotech published news for 2021 q4
SEC form 8
2022-03-28 00:00 ET
Fortress Biotech published news for 2021 q4
SEC form 6
2021-12-07 08:01 ET
Fortress Biotech published news for 2021 q3
SEC form 6
2021-11-15 16:15 ET
Fortress Biotech published news for 2021 q3
SEC form 10
2021-11-15 16:06 ET
Fortress Biotech published news for 2021 q3
SEC form 10
2021-11-15 00:00 ET
Fortress Biotech published news for 2021 q3
SEC form 8
2021-11-15 00:00 ET
Fortress Biotech published news for 2021 q3
SEC form 6
2021-10-27 08:16 ET
Fortress Biotech published news for 2021 q3
SEC form 6
2021-10-06 16:14 ET
Fortress Biotech published news for 2021 q3
SEC form 6
2021-09-29 07:45 ET
Fortress Biotech published news for 2021 q2
SEC form 6
2021-09-28 16:10 ET
Fortress Biotech published news for 2021 q2
SEC form 6
2021-09-24 17:19 ET
Fortress Biotech published news for 2021 q2
SEC form 6
2021-08-27 17:02 ET
Fortress Biotech published news for 2021 q2
SEC form 10
2021-08-16 16:14 ET
Fortress Biotech published news for 2021 q2
SEC form 6
2021-08-16 16:08 ET
Fortress Biotech published news for 2021 q2
SEC form 10
2021-08-16 00:00 ET
Fortress Biotech published news for 2021 q2
SEC form 8
2021-08-16 00:00 ET
Fortress Biotech published news for 2021 q2
SEC form 6
2021-07-29 17:01 ET
Fortress Biotech published news for 2021 q2
SEC form 6
2021-07-14 19:17 ET
Fortress Biotech published news for 2021 q2
SEC form 6
2021-06-23 16:15 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-06-17 16:21 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-05-17 16:21 ET
Fortress Biotech published news for 2021 q1
SEC form 10
2021-05-17 16:07 ET
Fortress Biotech published news for 2021 q1
SEC form 8
2021-05-17 00:00 ET
Fortress Biotech published news for 2021 q1
SEC form 10
2021-05-17 00:00 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-04-30 16:02 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-04-20 16:16 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-04-13 17:13 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-04-09 17:29 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-04-01 07:00 ET
Fortress Biotech published news for 2021 q1
SEC form 6
2021-03-31 16:21 ET
Fortress Biotech published news for 2020 q4
SEC form 10
2021-03-31 16:03 ET
Fortress Biotech published news for 2020 q4
SEC form 6
2021-02-24 08:15 ET
Fortress Biotech published news for 2020 q4
SEC form 6
2020-11-09 16:37 ET
Fortress Biotech published news for 2020 q3
SEC form 10
2020-11-09 16:07 ET
Fortress Biotech published news for 2020 q3