Fortress Biotech, Inc. (FBIO) Stock

Fortress Biotech, Inc. (FBIO) is a Healthcare stock trading at $2.87 (as of 2026-08-21), with a market capitalization of $95.44M and a trailing P/E of 0.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Fortress Biotech, Inc. develops, and commercializes pharmaceutical and biotechnology products. It markets dermatology therapies and related products, including capsules and creams for conditions such as acne, ringworm/jock itch symptoms, dry skin, and wound management, and also develops late-stage and earlier-stage product candidates across multiple therapeutic areas.

Understand Fortress Biotech, Inc.: how it makes money

Fortress Biotech develops and commercializes biopharmaceutical products, with marketed dermatology offerings such as Ximino, Targadox, Exelderm, Ceracade, Luxamend, and Accutane, and it makes money primarily from net product sales of these therapies.

Even with a reported positive gross margin, the business must scale marketed dermatology product revenue enough to offset ongoing operating costs tied to running clinical programs and trials, because operating margin is currently deeply negative.

Revenue by segment (latest quarter)
Net Product Revenue	$0.0B

Business quality (Mixed): Data is directionally useful (gross margin and operating margin are provided, and key operating KPIs exist), but the revenue scale is very small in the latest quarter, so investors should focus on trends in product revenue and prescription reach rather than a single quarter snapshot.

Valuation: At 1× earnings, FBIO trades 94% below the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

Broad dermatology portfolio already on market: The company markets multiple dermatology products, including Ximino, Targadox, Exelderm, Ceracade, Luxamend, and Accutane.
Commercial activity can be tracked through Ambrosie prescriber reach: Operational KPIs include Unique Ambrosie Prescribers, which helps gauge demand creation for an important product.

Bear case

Operating losses are significant relative to revenue in the latest quarter: Reported operating margin is -48.3% while revenue is reported as 0.0B, indicating costs are not yet covered by sales at the current scale.
Execution risk from an active pipeline: The company has 20 clinical programs and 30 ongoing clinical trials, which increases the chance that development timelines, trial outcomes, or future regulatory steps do not translate into future commercial revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$2.87
Market Cap	$95.44M
P/E Ratio	0.9
Price / Book	0.46
Price / Sales	1.39
FCF Yield	-62.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$63.26M
Net Margin	10.8%
Revenue Growth (YoY)	14.0%
EPS Growth (YoY)	-116.0%
FCF Growth (YoY)	115.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	-5.53 (distress)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	0.9
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.0
vs Sector	-96.1%
vs Industry	-95.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($4.03M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Lindsay Allan Rosenwald
Employees	101
Country	US
IPO Date	2011-11-17

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.