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Fortress Biotech: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ Fortress Biotech Inc. (FBIO) on Monday reported a loss of $15.5 million in its third quarter.

On a per-share basis, the New York-based company said it had a loss of 20 cents.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.

The biopharmaceutical company posted revenue of $9.5 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $11.1 million.

In the final minutes of trading on Monday, the company's shares hit $2.34. A year ago, they were trading at $1.33.

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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