FORTRESS BIOTECH, INC. (NASDAQ:FBIO) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On January 3, 2017, Fortress Biotech, Inc. (the “Company”) gave notice to NSC BIOTECH VENTURE FUND I LLC (the “Holder”) to extend the maturity date of the Company’s $10.0 million Promissory Note issued to Holder and dated February 27, 2015, as amended and restated on July 29, 2015 (the “Note”) by an additional six months such that the new maturity date of the Note is September 30, 2018. The maturity date of the SubCo Note (as such term is defined in the Note) previously issued by the Company’s majority-owned subsidiary, Avenue Therapeutics, Inc., to the Holder was also extended to September 30, 2018. The other terms of the Note remain unchanged, and were reported in the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 4, 2015.
About FORTRESS BIOTECH, INC. (NASDAQ:FBIO)
Fortress Biotech, Inc., formerly Coronado Biosciences, Inc., is a biopharmaceutical company. The Company is involved in the development of immunotherapy agents for the treatment of autoimmune diseases and cancer. Its sole product candidate is CNDO-109. The Company is also focused on acquiring, developing and commercializing pharmaceutical and biotechnology products. The Company’s product, CNDO-109, is a lysate (disrupted Closteroviridae (CTV)-1 cells, cell membrane fragments, cell proteins and other cellular components) that activates donor Natural Killer (NK) cells. CTV-1 is a leukemic cell line re-classified as a T-cell acute lymphocytic leukemia (ALL). The Company holds the license to develop and commercialize CNDO-109 to activate NK cells for the treatment of cancer-related and other conditions, and a non-exclusive license to certain clinical data solely for use in the Investigational new drug (IND) for CNDO-109. The Company is conducting the Phase I clinical studies of CNDO-109. FORTRESS BIOTECH, INC. (NASDAQ:FBIO) Recent Trading Information
FORTRESS BIOTECH, INC. (NASDAQ:FBIO) closed its last trading session down -0.04 at 2.76 with 595,474 shares trading hands.