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Fortress Biotech: 3Q Earnings Snapshot

November 12, 2019 GMT

NEW YORK (AP) _ Fortress Biotech Inc. (FBIO) on Tuesday reported a loss of $12.8 million in its third quarter.

On a per-share basis, the New York-based company said it had a loss of 22 cents.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.

The biopharmaceutical company posted revenue of $9.8 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $8.5 million.

The company’s shares closed at $1.51. A year ago, they were trading at $1.10.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FBIO at https://www.zacks.com/ap/FBIO