Fortress Biotech Third Quarter 2024 Earnings: Misses Expectations

Fortress Biotech (NASDAQ:FBIO) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$14.6m (down 7.1% from 3Q 2023).
• Net loss: US$12.9m (loss widened by 82% from 3Q 2023).
• US$0.65 loss per share.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Fortress Biotech Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 55%. Earnings per share (EPS) also missed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are down 16% from a week ago.

Risk Analysis

It is worth noting though that we have found 5 warning signs for Fortress Biotech (3 are potentially serious!) that you need to take into consideration.

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