Fortress Biotech reported second quarter 2026 financial results with total net revenue increasing 14% to $18.7 million, compared to $16.4 million in the prior year period. The company posted a consolidated net loss attributable to common stockholders of $(2.5) million, or $(0.08) per share basic and diluted, versus a net income of $13.4 million in the same quarter last year. Cash and cash equivalents rose to $196.6 million as of June 30, 2026, up from $79.4 million at year-end 2025. Operating expenses decreased significantly, with research and development falling to $0.8 million from $8.1 million and selling, general and administrative costs dropping to $20.8 million from $38.8 million. The company highlighted the advancement of its partnered programs, including a $130 million Series B financing for Crystalys Therapeutics' dotinurad program and expanded payer access for Journey Medical's Emrosi product.