Fortress Biotech, Inc. (NASDAQ: FBIO) and its majority‑owned subsidiary Cyprium Therapeutics completed the sale of Cyprium’s Rare Pediatric Disease Priority Review Voucher (PRV) on March 30, 2026, generating gross proceeds of $205 million. Fortress expects to receive more than $100 million in cash, a non‑dilutive infusion that will strengthen its balance sheet and provide additional flexibility to fund business development and advance its portfolio of assets.
The PRV was issued after the U.S. Food and Drug Administration approved ZYCUBO® (formerly CUTX‑101) for Menkes disease on January 12, 2026, and was transferred to Cyprium in December 2023. Under the sale terms, Cyprium must pay 20 % of the proceeds to the Eunice Kennedy Shriver National Institute of Child Health and Human Development, while retaining tiered royalties on ZYCUBO® sales and up to approximately $128 million in aggregate sales milestones from Sentynl Therapeutics.
"The sale of the PRV by Cyprium is a transformational corporate transaction for both Cyprium and Fortress. As the majority shareholder of Cyprium, Fortress expects to receive over $100 million in proceeds from the transaction, which will enhance our financial flexibility to invest in business development and the continued advancement of our robust portfolio," said Lindsay A. Rosenwald, M.D., Chairman, President and Chief Executive Officer of Fortress and Chairman of Cyprium.
"In addition to the PRV sale, Fortress' portfolio earned three FDA approvals in the last 15 months for Emrosi™, UNLOXCYT™, and ZYCUBO®, and we sold our former subsidiary Checkpoint Therapeutics to Sun Pharma. All of the progress across our diversified portfolio further validates our business model and we look forward to the potential achievement of key upcoming milestones within our broad pipeline of commercial and clinical‑stage assets," added Rosenwald.
Fortress reported a Q3 2025 earnings per share of $0.11, beating estimates, while a Q4 2024 loss of $0.26 per share highlighted prior challenges. The PRV sale provides a significant cash boost that will help the company address those past losses, fund ongoing development, and position Fortress for future growth opportunities.
The transaction is a major financing event that enhances Fortress’s financial flexibility, supports its strategy of acquiring and advancing assets, and underscores the company’s ability to monetize regulatory assets while maintaining a robust pipeline of approved and pipeline products.
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