Fortress Biotech: 3Q Earnings Snapshot
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.