Fortress Biotech Inc 9.375% Series A Cumulativ (FBIOP)

$FBIO $FBIOP My rough prediction for Q3 wrap now: Fortress / consolidated (in millions), ultra basic Revs: 18 COGS: 6 Dep./Am.: 1 R+D: 1.2 (Saving 6.9m from Q2 CKPT expenses) SG+A: 18.9 (Saving 19.9m from Q2 CKPT expenses) Interest Exp.: 2.5 Earnings at -11.6m Fortress looks like they will be burning approximately 10m per Q... even as they ramp EMROSI, the SG+A will also increase through DERM to a ceiling value TBD. Oaktree note has a 30 month interest only expense, From July 2024. That means in January 2027 they will need to begin payback of principal. Currently they've only drawn 35m, but can access another 15m if they're on their best behavior. There seems to be a way through this without another S-3 in the next 12 months. If my prediction is correct, FBIO will have around 65m in cash at this time, and approximately 6 quarters (1.5 years) to right the ship... and most certainly by January 2027. Wild card is the FDA curtailment, and their non-acceptance of "New NDA's" at this time.

$FBIO $FBIOP My cousin Zellchair may be questioning his entire investment and has been fickle with both preferred and common, but I am all in, baby!!! Even if waiting for preferred dividends to resume feels like waiting for Santa Clause, I don’t care! My cousin may be wasting time with his indecisiveness on these tickers, but my answer is plain and simple: FBIO and FBIOP ride or die!!

If the commons stays elevated, can def see a raise to get $FBIOP paid off Interesting times

$FBIO $FBIOP 42m on their 2024 baby shelf that can't be accessed without the reinstatement of dividends. FBIOP is looking very good here now.

Oh well .... push out of PRV a year or so $FBIOP

$FBIO $FBIOP Anyone has an idea how long it can take to fix this?

$FBIOP $FBIO That means no ATM/dilution

$FBIOP $FBIO

$FBIO $FBIOP $DERM Ding ding. Now who will be next in line after Highbridge?

$FBIOP $FBIO banging the table about this from several months ago.