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Stock impact report

Fortress Biotech's Subsidiary Cyprium Therapeutics Closes Sale of Rare Pediatric Disease Priority Review Voucher for $205 Million [Yahoo! Finance]

Fortress Biotech, Inc. (FBIO) 
Last fortress biotech, inc. earnings: 11/12 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: fortressbiotech.com
Company Research Source: Yahoo! Finance
subsidiary, Cyprium Therapeutics, Inc. (“Cyprium”), today announced the closing of the sale of Cyprium's Rare Pediatric Disease Priority Review Voucher (“PRV”) for gross proceeds of $205 million. “The sale of the PRV by Cyprium is a transformational corporate transaction for both Cyprium and Fortress. As the majority shareholder of Cyprium, Fortress expects to receive over $100 million in proceeds from the transaction, which will enhance our financial flexibility to invest in business development and the continued advancement of our robust portfolio,” said Lindsay A. Rosenwald, M.D., Fortress' Chairman, President and Chief Executive Officer and Cyprium's Chairman. “In addition to the PRV sale, Fortress' portfolio earned three FDA approvals in the last 15 months for Emrosi™, UNLOXCYT™, and ZYCUBO ® , and we sold our former subsidiary Checkpoint Therapeutics to Sun Pharma. All of the progress across our diversified portfolio further validates our business model and we look forward to Show less Read more
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