Reading FBIO? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track FBIO free→Reading FBIO? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track FBIO free→
NASDAQHealth CareBiotechnologySnapshot 2026-06-15
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral, and earnings quality is fragile, reported profits aren't backed by cash. Management's recent track record has been unsteady, with frequent disruptive corporate changes, and the capital stance is capital unfriendly. The sector backdrop is a headwind, which could impact performance. Peer multiples imply a price about 81% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk, as it trades below peer multiples but recent financials are weak or earnings quality is fragile. If FBIO cuts guidance on the next call, that could be a meaningful negative. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 1 valuation methods, at three horizons. Current price $2.86. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $2.86 FBIO trades at 1× p/e, below its 17× p/e peer median. Our $22 fair value sits above the price; medium confidence. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 87% below a flat-multiple fair value, below our forecast of about 24%. This describes what's priced in, not a forecast of the move.
Only weak execution quality, a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
Over the trailing year it converted 1.00x of net income into operating cash flow. Historically, Health Care names rated fragile grew net income 40% of the time over the next year (vs 56% for the rest of the cohort, n=1703).
Not enough signal yet.
11 material management or governance events in the past 24 months, led by legal/regulatory items. Historically, Health Care names rated volatile grew net income 43% of the time over the next year (vs 57% for the rest of the cohort, n=600).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $-0.19 → $-0.20 (-5.3% / 30d). 0 raised, 1 cut, 1 covering analysts.
0 upgrades, 0 downgrades / 30d. 100% of analysts rate Buy.
1 PT revisions / 30d. Avg target 96.1% above current price.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Not enough price history for this read.
How much price usually moves either way.
Not enough price history for this read.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $580.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: The earnings report shows how the company is doing and what may happen next.
Confirms one read:Fortress Biotech announces a date for its next earnings report.
Confirms the other:No announcement of an earnings date by the end of the quarter.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for FBIO yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Results of Operations and Financial Condition . On May 14, 2026, Fortress Biotech, Inc. issued a press release to provide a corporate update and to announce its financial results for the quarter ended March 31, 2026. A copy of such press release is being furnished as Exhibit 99.1 to this report. The information, including Exhibit 99.1, in this Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwi…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
Looks cheaper than most peers in the same business.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Biotechnology.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
FBIO Fortress Biotech Inc | Above typical Show detailsSector percentile: 99 of 100 | inexpensive | low |
ABBV AbbVie | Above typical Show detailsSector percentile: 85 of 100 | fair | low |
AMGN Amgen | Above typical Show detailsSector percentile: 78 of 100 | full | moderate |
GILD Gilead Sciences | Above typical Show detailsSector percentile: 100 of 100 | fair | moderate |
VRTX Vertex Pharmaceuticals | Above typical Show detailsSector percentile: 80 of 100 | expensive | moderate |
Not investment advice. As of 2026-06-15.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Focus on generating increasing royalty revenue from ZYCUBO and UNLOXCYT, along with potential milestone payments.
Newly stated in 2026-Q1. Management expects to generate increasing royalty revenue from ZYCUBO and UNLOXCYT, but no specific financial results or milestones were disclosed this quarter. The trajectory remains to be seen as this is a new focus.
“Looking ahead, we expect to generate increasing royalty revenue from ZYCUBO and UNLOXCYT.”
Achieve FDA approval for ZYCUBO for the treatment of Menkes disease in pediatric patients.
Newly stated in 2026-Q1. FDA approval for ZYCUBO was achieved, marking a significant milestone for the company. This approval is expected to contribute to future revenue growth, although current financials do not yet show the impact.
“FDA approved ZYCUBO for the treatment of Menkes disease in pediatric patients.”
Why it matters: If revenue growth speeds up, it could signal a stronger market for Fortress Biotech.
Confirms:Health Care sector revenue growth is speeding up toward 10% or more.
Disproves:Revenue growth stays below 10% or keeps slowing down.
Results of Operations and Financial Condition . On March 31, 2026, Fortress Biotech, Inc. issued a press release to provide a corporate update and to announce its financial results for the year ended December 31, 2025. A copy of such press release is being furnished as Exhibit 99.1 to this report. The information, including Exhibit 99.1, in this Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or other…
Other Events. On March 30, 2026, Fortress Biotech, Inc. (the “ Company ”) issued a press release announcing the closing of the sale by Cyprium Therapeutics, Inc. (“ Cyprium ”), a majority-owned subsidiary of the Company, of its Rare Pediatric Disease Priority Review Voucher (“ PRV ”) for $205 million in gross proceeds pursuant to the previously disclosed definitive asset purchase agreement (the “ PRV APA ”). In connection with the sale of the PRV, Cyprium redeemed all outstanding shares o…
Entry into a Material Definitive Agreement . Priority Review Voucher Asset Purchase Agreement On February 22, 2026, Cyprium Therapeutics, Inc. (“Cyprium”), a majority-owned subsidiary of Fortress Biotech, Inc. (the “ Company ”), entered into a definitive asset purchase agreement (the “ PRV APA ”) pursuant to which Cyprium agreed to sell a Rare Pediatric Disease Priority Review Voucher (“ PRV ”). As previously disclosed, the PRV was originally issued in connection with the FDA’s approval o…
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in