Fortress Biotech Climbs on Revised Credit Agreement

Dow Jones01-13

By Katherine Hamilton

Shares of Fortress Biotech gained after the company announced a credit amendment.

The stock rose 5.5%, to $4.43, in after-hours trading Monday. Through the close, shares have more than doubled over the past year.

The Bay Harbor Islands, Fla., biopharmaceutical company said it amended a 2024 credit agreement to extend its maturity date by a year to 2028. It also shifted the timeline when certain percentages of the loan balance will be due.

It also amended a covenant requiring that product net sales of Fortress's subsidiary Journey Medical Corporation to meet a minimum.

The new agreement requires that Journey's product net sales be $60 million as of the last day of the fiscal quarter ending Dec. 31, 2025. That amount will increase by $5 million by the end of each of the following four quarters.

Also in connection with the amendment, Fortress granted warrants to the lenders to buy up to 600,000 shares of its common stock for $2.62 each.

The amended agreement comes after Fortress said this morning that the Food and Drug Administration had accepted its resubmission of a new drug application for its drug that is designed to treat Menkes disease.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 12, 2026 18:05 ET (23:05 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Through the close, shares have more than doubled over the past year. \n\n\n  The Bay Harbor Islands, Fla., biopharmaceutical company said it amended a 2024 credit agreement to extend its maturity date by a year to 2028. It also shifted the timeline when certain percentages of the loan balance will be due. \n\n\n  It also amended a covenant requiring that product net sales of Fortress's subsidiary Journey Medical Corporation to meet a minimum. \n\n\n  The new agreement requires that Journey's product net sales be $60 million as of the last day of the fiscal quarter ending Dec. 31, 2025. 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