Net Income for Fortress Biotech, Inc. (NASDAQ: FBIO) shareholders was $0.03 per share

On Yesterday, Fortress Biotech, Inc. (NASDAQ: FBIO) shares price traded between $1.56 and $1.73 during the last trading session below with -8.09% at $1.59. The shares recorded a trading volume 281,803 shares as compared to its average volume of 844,261 shares. The company has 63.93M shares outstanding and market value of 103.717M. Over the one year trading period, the stock has a peak price of $3.13 and its down is recorded at $0.49. The short ratio in the stock is 3.65 and the short float is around of 6.75%.

Fortress Biotech, Inc. (NASDAQ: FBIO), recently reported financial results and recent corporate highlights for the first quarter ended March 31, 2019.

  • As of March 31, 2019, Fortress’ consolidated cash, cash equivalents, short-term investments (certificates of deposit), and restricted cash totaled $137.5M, contrast to $99.2M as of December 31, 2018, a raise of $38.3M for the quarter.
  • Fortress’ net revenue totaled $6.5M for the first quarter of 2019, contrast to $5.9M for the first quarter of 2018.
  • Research and development expenses were $23.3M for the first quarter of 2019, of which $22.6M was related to Fortress partner companies. This compares to $25.0M for the first quarter of 2018, of which $22.8M was related to Fortress partner companies. Non-cash, stock-based compensation expenses included in research and development were $0.6M for the first quarter of 2019, contrast to $2.3M for the first quarter of 2018.
  • Research and development expenses from license acquisitions totaled $0.5M for the first quarter of 2019, contrast to $0.1M for the first quarter of 2018.
  • General and administrative expenses were $13.5M for the first quarter of 2019, of which $8.9M was related to Fortress partner companies. This compares to $13.5M for the first quarter of 2018, of which $8.4M was related to Fortress partner companies. Non-cash, stock-based compensation expenses included in general and administrative expenses were $2.7M for the first quarter of 2019, contrast to $2.4M for the first quarter of 2018.
  • Net income attributable to ordinary stockholders was $1.4M, or $0.03 per share, for the first quarter of 2019, contrast to a net loss attributable to ordinary stockholders of $21.0M, or $0.49 per share, for the first quarter of 2018.

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