Group 1 - Momentum investors focus on "buying high and selling higher" rather than traditional strategies of buying low and waiting for recovery [1] - Fast-moving trending stocks can lose momentum if their future growth does not justify their high valuations, leading to potential downside risks for investors [2] - Investing in bargain stocks that have recently shown price momentum can be a safer strategy, with tools like the Zacks Momentum Style Score aiding in identifying such stocks [3] Group 2 - Fortress Biotech (FBIO) has shown a price increase of 2.2% over the past four weeks, indicating growing investor interest [4] - FBIO has gained 23.5% over the past 12 weeks, demonstrating its ability to deliver positive returns over a longer timeframe, with a beta of 1.75 indicating high volatility [5] - FBIO has a Momentum Score of B, suggesting it is an opportune time to invest in the stock [6] Group 3 - An upward trend in earnings estimate revisions has contributed to FBIO earning a Zacks Rank 2 (Buy), which is associated with strong momentum effects [7] - FBIO is trading at a Price-to-Sales ratio of 0.97, indicating it is reasonably valued at 97 cents for each dollar of sales [7] - FBIO appears to have significant growth potential while maintaining a fast pace, alongside other stocks that meet similar criteria [8] Group 4 - There are over 45 Zacks Premium Screens available for investors to find winning stock picks based on their personal investing styles [9] - The effectiveness of stock-picking strategies can be backtested using tools like the Zacks Research Wizard, which includes successful strategies [10]

Group 1: Momentum Investing Overview - Momentum investing deviates from the traditional strategy of "buying low and selling high," focusing instead on "buying high and selling higher" for quicker profits [1] - Fast-moving trending stocks can be challenging to enter at the right time, as they may lose momentum if future growth does not justify their high valuations [2] Group 2: Investment Strategy - A safer investment approach involves targeting bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify promising candidates [3] - Fortress Biotech (FBIO) is highlighted as a strong candidate, showing a price increase of 6.5% over the past four weeks, indicating growing investor interest [4] Group 3: Fortress Biotech (FBIO) Performance - FBIO has demonstrated a 7.7% price gain over the past 12 weeks, with a beta of 1.76, suggesting it moves 76% more than the market [5] - The stock has a Momentum Score of A, indicating a favorable entry point for investors looking to capitalize on its momentum [6] Group 4: Earnings Estimates and Valuation - FBIO's upward trend in earnings estimate revisions has earned it a Zacks Rank 2 (Buy), which is associated with strong momentum effects [7] - The stock is currently trading at a Price-to-Sales ratio of 0.93, suggesting it is undervalued, as investors pay only 93 cents for each dollar of sales [7] Group 5: Additional Opportunities - Besides FBIO, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - Investors can explore over 45 Zacks Premium Screens tailored to different investing styles to identify potential winning stocks [9]

Financial Data and Key Metrics Changes - The meeting did not provide specific financial data or key metrics changes for Fortress Biotech for FY 2025 [1][2][12] Business Line Data and Key Metrics Changes - No detailed information regarding changes in specific business lines or their key metrics was presented during the meeting [1][2][12] Market Data and Key Metrics Changes - The meeting did not include any market data or key metrics changes relevant to Fortress Biotech [1][2][12] Company Strategy and Development Direction and Industry Competition - The meeting focused on formal business motions and did not elaborate on the company's strategic direction or competitive landscape within the industry [1][2][12] Management Comments on Operating Environment and Future Outlook - Management did not provide comments on the operating environment or future outlook during the meeting [1][2][12] Other Important Information - The meeting confirmed the election of directors and the ratification of KPMG LLP as the independent registered public accounting firm for FY 2025 [11][12] - The advisory vote on the compensation of named executive officers was approved, along with the frequency of future advisory votes [11][12] - The second amended and restated certificate of incorporation was not approved [11] Q&A Session All Questions and Answers - No Q&A session was conducted during the meeting, and no questions were submitted or addressed [1][2][12]

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point, as stocks may lose momentum when their valuations exceed future growth potential [2] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify such opportunities [3] Group 2: Fortress Biotech (FBIO) Analysis - Fortress Biotech (FBIO) has shown a four-week price change of 3.4%, indicating growing investor interest [4] - Over the past 12 weeks, FBIO's stock gained 5.8%, with a beta of 1.76, suggesting it moves 76% more than the market [5] - FBIO has a Momentum Score of B, indicating a favorable time to invest based on momentum [6] Group 3: Earnings Estimates and Valuation - FBIO has received a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which typically attract more investor interest [7] - The stock is trading at a Price-to-Sales ratio of 0.94, suggesting it is undervalued at 94 cents for each dollar of sales [7] Group 4: Additional Investment Opportunities - Besides FBIO, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - Zacks offers over 45 Premium Screens tailored to different investing styles, aiding in the identification of potential winning stocks [9]

Core Insights - Fortress Biotech's subsidiary Checkpoint Therapeutics has been acquired by Sun Pharmaceutical Industries for $4.10 per share in cash, with additional contingent value rights and royalties tied to future sales of UNLOXCYT™ [1][2] Financial Details - Fortress will receive approximately $28 million shortly after the closing of the transaction and is eligible for an additional contingent value right (CVR) of up to $4.8 million, plus a 2.5% royalty on future net sales of UNLOXCYT™ [1][2] - The acquisition deal was approved by Checkpoint's stockholders on May 28, 2025, and closed on May 30, 2025 [1][2] Product Information - UNLOXCYT™ (cosibelimab-ipdl) is the first and only FDA-approved PD-L1 blocking antibody for advanced cutaneous squamous cell carcinoma, receiving FDA approval in December 2024 [3] Company Strategy - Fortress Biotech focuses on acquiring and advancing biopharmaceutical assets to enhance long-term shareholder value through product revenue, equity holdings, and dividend and royalty revenue [4] - The company aims to strengthen its balance sheet through opportunistic transactions and is actively evaluating business development opportunities [2][4]

Financial Performance - Fortress Biotech reported a quarterly loss of $0.48 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.44, but an improvement from a loss of $1.03 per share a year ago [1] - The company posted revenues of $13.14 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 27.56%, compared to revenues of $13.03 million in the same quarter last year [2] - Over the last four quarters, Fortress Biotech has surpassed consensus EPS estimates two times and topped consensus revenue estimates once [2] Stock Performance and Outlook - Fortress Biotech shares have declined approximately 18% since the beginning of the year, while the S&P 500 has gained 0.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.43 on revenues of $14.4 million, and for the current fiscal year, it is -$1.51 on revenues of $101.55 million [7] - The estimate revisions trend for Fortress Biotech is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Fortress Biotech belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5]

Financial Performance - For the three months ended March 31, 2025, net revenue was $13.1 million, compared to $13.0 million for the same period in 2024, reflecting a slight increase in revenue [187]. - For Q1 2025, Mustang reported a net revenue of $13.1 million, a 1% increase from $13.0 million in Q1 2024, including $2.0 million from the U.S. launch of Emrosi [206][207]. - The net loss attributable to Fortress decreased by 31% to $10.6 million in Q1 2025 from $15.4 million in Q1 2024 [206]. - Total other income (expense) decreased by $0.1 million, or 3%, from an expense of $2.5 million for the quarter ended March 31, 2024, to an expense of $2.4 million for the quarter ended March 31, 2025 [219]. - Net cash used in operating activities decreased by $5.8 million from $25.4 million for the three months ended March 31, 2024, to $19.6 million for the same period in 2025 [238]. - Net cash provided by financing activities was $27.9 million for the three months ended March 31, 2024, compared to $52.1 million for the same period in 2025, an increase of $24.3 million [241]. Research and Development - CAEL-101 is currently undergoing two global Phase 3 pivotal studies for AL amyloidosis, with topline data expected in the second half of 2025 [195]. - The FDA accepted the NDA for CUTX-101 (copper histidinate for Menkes disease) for priority review, with a target action date of September 30, 2025 [195]. - Triplex, a cytomegalovirus vaccine, is currently in a Phase 2 clinical trial with topline data anticipated in the third quarter of 2025 [190]. - The company is exploring a trial for MB-109 to treat patients with IL13Rα2+ recurrent GBM, potentially starting in Q1 2026 [195]. - Mustang is planning a proof-of-concept Phase 1 clinical trial for MB-106 in autoimmune diseases, potentially starting in Q1 2026 [203]. - Research and development expenses dropped by 84% to $3.9 million in Q1 2025, down from $24.8 million in Q1 2024, largely due to workforce reductions and the closure of the MB-106 clinical trial [212]. Expenses and Cost Management - Operating expenses decreased by 29% to $35.5 million in Q1 2025 from $49.6 million in Q1 2024, primarily due to an 84% reduction in research and development expenses [206]. - Selling, general and administrative expenses increased by 43% to $25.7 million in Q1 2025, driven by a $4.9 million increase at Checkpoint and a $2.1 million increase at Journey [215]. - Cost of goods sold decreased by 20% to $4.8 million in Q1 2025 from $6.0 million in Q1 2024, attributed to a change in product sales mix [208]. - Amortization of acquired intangible assets rose by 31% to $1.1 million in Q1 2025, influenced by the addition of the Emrosi asset [209]. Corporate Actions and Agreements - Checkpoint Therapeutics, Inc. entered into an agreement to be acquired by Sun Pharmaceutical Industries, Inc. for $4.10 per share in cash, with a contingent value right of up to $0.70 per share upon achieving EU approval [190]. - Fortress has established partnerships with leading institutions and companies, including AstraZeneca and Dr. Reddy's Laboratories, to enhance product development [183]. - Mustang executed a 1-for-50 reverse stock split in January 2025 to comply with Nasdaq listing requirements [203]. - Mustang exited its manufacturing facility lease in Worcester, Massachusetts, selling assets to AbbVie for $1.0 million in February 2025 [203]. Cash and Securities - As of March 31, 2025, the company had cash and cash equivalents of $91.3 million, with $19.5 million related to Fortress and private subsidiaries, $33.0 million to Checkpoint, $14.2 million to Mustang, $21.1 million to Journey, and $3.5 million to Avenue [222]. - The company reported an accumulated deficit of $751.5 million as of March 31, 2025, primarily due to R&D expenses and administrative costs [221]. - Net cash provided by investing activities increased by $1.2 million, attributed to Mustang's proceeds from the sale of held-for-sale assets [240]. - The company issued and sold approximately 0.5 million shares at an average price of $1.94 per share for gross proceeds of approximately $1.0 million under its at-the-market offering program during the three months ended March 31, 2025 [226]. - Journey issued and sold approximately 0.8 million shares of common stock for gross proceeds of $4.1 million under its at-the-market offering agreement during the same period [229]. - As of March 31, 2025, approximately $65.7 million of securities remain available for sale through Checkpoint's registration statement [230]. - Mustang closed on an equity offering in February 2025, raising approximately $6.8 million in net proceeds after deducting fees and expenses [234]. Regulatory and Compliance - Fortress is classified as a "smaller reporting company," with market value criteria affecting its reporting obligations [202]. - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures [244]. - There were no material changes in contractual obligations and commitments during the three months ended March 31, 2025 [243].

Financial Performance - Fortress Biotech reported consolidated net product revenue of $13.1 million for Q1 2025, compared to $13.0 million in Q1 2024, reflecting a slight increase[15]. - Journey Medical's net product revenues for Q1 2025 were $13.1 million, slightly up from $13.0 million in Q1 2024[9]. - Product revenue for the three months ended March 31, 2025, was $13,139,000, a slight increase from $13,030,000 in the same period of 2024, reflecting a growth of 0.8%[21]. - Fortress reported a consolidated net loss attributable to common stockholders of $(12.7) million, or $(0.48) per share, for Q1 2025, an improvement from a net loss of $(17.9) million, or $(1.04) per share, in Q1 2024[15]. - Net loss for the three months ended March 31, 2025, was $24,691,000, compared to a net loss of $39,023,000 in Q1 2024, indicating an improvement of 36.7%[21]. - Net loss attributable to common stockholders decreased to $12,715,000 in Q1 2025 from $17,860,000 in Q1 2024, a reduction of 29.1%[21]. Cash and Assets - Fortress' consolidated cash and cash equivalents increased by $34.0 million to $91.3 million as of March 31, 2025, compared to $57.3 million at the end of 2024[15]. - Cash and cash equivalents increased to $91,339,000 as of March 31, 2025, up from $57,263,000 at December 31, 2024, representing a growth of 59.5%[20]. - Total assets increased to $178,071,000 as of March 31, 2025, up from $144,223,000 at December 31, 2024, representing a growth of 23.5%[20]. - Total liabilities remained relatively stable at $145,585,000 as of March 31, 2025, compared to $145,867,000 at December 31, 2024, showing a slight decrease of 0.2%[20]. - The accumulated deficit increased to $(751,451,000) as of March 31, 2025, from $(740,867,000) at December 31, 2024, reflecting a change of 1.6%[20]. Expenses - Fortress' consolidated research and development expenses decreased to $3.9 million in Q1 2025 from $24.8 million in Q1 2024[15]. - Total operating expenses decreased to $35,456,000 in Q1 2025 from $49,596,000 in Q1 2024, a reduction of 28.5%[21]. - Research and development expenses significantly decreased to $3,938,000 in Q1 2025 from $24,839,000 in Q1 2024, a decline of 84.2%[21]. - Consolidated selling, general and administrative costs rose to $25.7 million in Q1 2025, compared to $17.9 million in Q1 2024[15]. Strategic Developments - The FDA accepted the New Drug Application for CUTX-101 with a PDUFA goal date of September 30, 2025, which may also result in a Priority Review Voucher[2]. - The commercial launch of Emrosi™ for treating inflammatory lesions of rosacea began in March 2025, with initial prescriptions filled[9]. - Fortress entered into a strategic collaboration with Partex NV to evaluate biopharmaceutical compounds using artificial intelligence for potential acquisition or licensing[15]. - The company expects to receive approximately $28 million at closing from the acquisition of Checkpoint Therapeutics by Sun Pharma, along with future potential royalties and a contingent value right payment[2]. Shareholder Information - The weighted average common shares outstanding increased to 26,450,218 in Q1 2025 from 17,151,945 in Q1 2024, an increase of 54.3%[21].

Core Insights - Fortress Biotech, Inc. has initiated the commercial launch of Emrosi™ for treating inflammatory lesions of rosacea in adults, following FDA approval in November 2024 [4] - The company reported a net loss of $(12.7) million, or $(0.48) per share, for Q1 2025, an improvement from a net loss of $(17.9) million, or $(1.04) per share, in Q1 2024 [12][18] - Fortress' subsidiary Checkpoint Therapeutics is set to be acquired by Sun Pharma, with expected upfront cash payment of approximately $28 million and potential future royalties [3][2] Financial Results - Fortress' consolidated cash and cash equivalents increased to $91.3 million as of March 31, 2025, up from $57.3 million at the end of 2024, marking a $34 million increase [12][14] - Consolidated net product revenue for Q1 2025 was $13.1 million, slightly up from $13.0 million in Q1 2024 [9][18] - Research and development expenses for Q1 2025 totaled $3.9 million, a significant decrease from $24.8 million in Q1 2024 [12][18] Regulatory Updates - The FDA accepted the New Drug Application for CUTX-101 for Menkes disease, with a PDUFA goal date of September 30, 2025 [2][8] - UNLOXCYT, an anti-PD-L1 antibody developed by Checkpoint, was approved by the FDA in December 2024 for treating patients with metastatic or locally advanced cutaneous squamous cell carcinoma [8] Commercial Product Updates - Emrosi was launched by Journey Medical Corporation, with initial prescriptions filled at the end of March 2025 [4][18] - Full results from two Phase 3 clinical trials evaluating Emrosi were published, demonstrating its efficacy and safety for treating moderate-to-severe papulopustular rosacea [18] Corporate Highlights - Fortress has a robust pipeline with multiple late-stage programs and newly approved products, positioning the company for continued revenue growth [2] - The acquisition of Checkpoint by Sun Pharma is expected to enhance patient access to Checkpoint's products and create significant monetization opportunities for Fortress [3][2]

Core Viewpoint - Fortress Biotech, Inc. is actively participating in the H.C. Wainwright Annual Royalty Company Virtual Conference, highlighting its commitment to enhancing shareholder value through innovative biopharmaceutical strategies [1]. Company Overview - Fortress Biotech is focused on acquiring and advancing biopharmaceutical assets to enhance long-term shareholder value through product revenue, equity holdings, and dividend and royalty revenue [2]. - The company has eight marketed prescription pharmaceutical products and over 20 programs in development across various therapeutic areas, including oncology, dermatology, and rare diseases [2]. - Fortress has established partnerships with leading academic research institutions and biopharmaceutical companies, such as AstraZeneca and Fred Hutchinson Cancer Center, to maximize the potential of its product opportunities [2]. Conference Participation - Lindsay A. Rosenwald, M.D., the Chairman, President, and CEO of Fortress, will participate in a fireside chat and a panel presentation at the conference, indicating the company's engagement with industry discussions [1][3]. - The conference sessions include a fireside chat scheduled from 2:00 p.m. to 2:30 p.m. ET and a panel presentation from 5:00 p.m. to 6:00 p.m. ET [3].