Fortress Gains after Friday Jump

Fortress Biotech, Inc. (NASDAQ: FBIO) shares rose in early Monday trading after jumping over 11% on Friday. The company recently received a $7.5-million working capital line of credit.

Today, the New York-based Fortress, which prides itself on being an innovative biopharmaceutical company focused on acquiring, developing and commercializing or monetizing promising biopharmaceutical products and product candidates cost-effectively, announced that CEO Lindsay A. Rosenwald, will participate in the 20th Annual Needham Virtual Healthcare Conference, taking place now till Thursday.

Fortress Biotech was ranked in Deloitte’s 2019 and 2020 Technology Fast 500™, annual rankings of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors, based on percentages of fiscal year revenue growth over three-year periods. Fortress is focused on acquiring, developing and commercializing high-potential marketed and development-stage drugs and drug candidates.

The company has seven marketed prescription pharmaceutical products and over 25 programs in development at Fortress, at its majority-owned and majority-controlled partners and at partners it founded and in which it holds significant minority ownership positions.

Such product candidates span six large-market areas, including oncology, rare diseases and gene therapy, which allow it to create value for shareholders. Fortress advances its diversified pipeline through a streamlined operating structure that fosters efficient drug development.

The Fortress model is driven by a world-class business development team that is focused on leveraging its significant biopharmaceutical industry expertise to further expand the company’s portfolio of product opportunities.

FBIO shares gained 14 cents, or 2.6%, to $5.58.