Fortress Biotech Inc 2026年季度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June30,2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission File Number 001-35366 FORTRESS BIOTECH,INC.(Exact name of registrant as specified in its charter) 1111 Kane Concourse Suite 301Bay Harbor Islands, FL 33154(Address including zip code of principal executive offices) (781) 652-4500(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file suchreports), and (2)has been subject to such filing requirements for the past 90days. Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit such files). Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act: If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.◻ Indicate by check mark whether registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ Class of Stock FORTRESS BIOTECH, INC. AND SUBSIDIARIESQuarterly Report on Form 10-Q TABLE OF CONTENTS PART I.FINANCIAL INFORMATION6Item 1.Unaudited Condensed Consolidated Financial Statements6Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations41Item 3.Quantitative and Qualitative Disclosures About Market Risks57Item 4.Controls and Procedures58 PART II.OTHER INFORMATION58Item 1.Legal Proceedings58Item 1A.Risk Factors58Item 2.Unregistered Sales of Equity Securities and Use of Proceeds96Item 3.Defaults Upon Senior Securities97Item 4.Mine Safety Disclosures97Item 5.Other Information97Item 6.Exhibits97 SUMMARY OF RISK FACTORS Our business is subject to risks of which you should be aware before making an investment decision. The risksdescribed below are a summary of the principal risks associated with an investment in us and are not the only risks weface. You should carefully consider these risk factors, the risk factors described in Part 2, Item 1A, and the otherreports and documents that we have filed with the Securities and Exchange Commission (“SEC”). As used below andthroughout this filing (including in the risk factors described in Item 1A), the words “we”, “us” and “our” may refer toFortress Biotech, Inc. individually, to one or more of its subsidiaries and/or partner companies, or to all such entities asa group, as dictated by context. Risks Inherent in Drug Development ●Many of our product candidates are in early development stages and are subject to time- and cost-intensiveregulation and clinical testing, which may result in the identification of safety or efficacy concerns. As aresult, our product candidates may never be successfully developed or commercialized.●Our competitors may develop treatments for our products’ target indications, which could limit our productcandidates’ commercial opportunity and profitability. Risks Pertaining to the Need for and Impact of Existing and Additional Financing Activities ●We have a history of operating losses and expect such losses to continue in the future.●We have funded our operations in part through the assumption of debt, and our applicable lending agreementsmay restrict our operations. Further, the occurrence of any default event under an applicable loan documentcould adversely affect our business.●Our research and development (“R&D”) programs will require substantial additional capital, which we maybe unable to raise as needed and which may impede our R&D programs, commercialization efforts, orplanned acquisitions.●Our board of directors has paused payments of dividends on our preferred stock, and there can be noassurance that monthly dividend payments will be resumed in a timely manner, or at all.●If we raise additional capital by issuing equity, equity-linked securities or securities convertible into orexercisable for equity securities, our existing stockholders will be dilut