2019 Q2 Form 10-Q Financial Statement

#000114420419025261 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q4
Revenue $9.250M $6.477M $8.991M
YoY Change 35.73% 9.72% 19.2%
Cost Of Revenue $2.386M $1.884M $1.580M
YoY Change 43.05% 27.99% -12.71%
Gross Profit $6.864M $4.593M $7.410M
YoY Change 33.36% 3.66% -105.84%
Gross Profit Margin 74.21% 70.91% 82.42%
Selling, General & Admin $13.44M $13.48M $14.58M
YoY Change 2.96% -17.36% 1.18%
% of Gross Profit 195.85% 293.49% 196.76%
Research & Development $18.51M $23.27M $25.05M
YoY Change 1851000.0% -6.75% 73.84%
% of Gross Profit 269.68% 506.71% 338.06%
Depreciation & Amortization $500.0K $481.0K $740.0K
YoY Change 13.64% 145.41% -161.67%
% of Gross Profit 7.28% 10.47% 9.99%
Operating Expenses $31.95M $39.09M $39.63M
YoY Change -63.87% -2.47% -135.89%
Operating Profit -$25.29M -$32.61M -$41.21M
YoY Change -21.49% -4.58% 34.59%
Interest Expense $2.207M $1.847M -$3.220M
YoY Change 2.94% -11.33% -55.03%
% of Operating Profit
Other Income/Expense, Net -$2.190M $16.35M
YoY Change -77.38% -930.1%
Pretax Income -$27.48M -$16.26M -$34.63M
YoY Change -19.83% -55.02% 46.12%
Income Tax
% Of Pretax Income
Net Earnings -$13.10M $1.392M -$24.88M
YoY Change -39.39% -106.62% 138.93%
Net Earnings / Revenue -141.6% 21.49% -276.72%
Basic Earnings Per Share $0.03
Diluted Earnings Per Share -$243.8K $0.02 -$564.3K
COMMON SHARES
Basic Shares Outstanding 65.23M 48.51M 56.68M shares
Diluted Shares Outstanding 63.81M

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.4M $121.5M $83.10M
YoY Change 12.37% -26.5% -36.56%
Cash & Equivalents $165.5M $116.4M $65.51M
Short-Term Investments $5.000M $5.000M $17.60M
Other Short-Term Assets $3.400M $4.300M $19.80M
YoY Change -76.87% -71.9% -54.59%
Inventory $700.0K $629.0K $678.0K
Prepaid Expenses
Receivables $3.100M $8.022M $5.498M
Other Receivables $1.900M $2.200M $2.100M
Total Short-Term Assets $163.5M $136.5M $111.2M
YoY Change -4.66% -31.78% -39.29%
LONG-TERM ASSETS
Property, Plant & Equipment $34.30M $11.83M $12.02M
YoY Change 1254.66% 458.42% 68.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.20M $11.10M $0.00
YoY Change 1766.67% 753.85% -100.0%
Other Assets $17.30M $1.225M $276.0K
YoY Change -5.98% 30.88% 6.98%
Total Long-Term Assets $63.80M $63.99M $29.79M
YoY Change -2.45% -1.43% -52.55%
TOTAL ASSETS
Total Short-Term Assets $163.5M $136.5M $111.2M
Total Long-Term Assets $63.80M $63.99M $29.79M
Total Assets $227.3M $200.5M $141.0M
YoY Change -4.05% -24.35% -42.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.20M $29.30M $34.20M
YoY Change -54.97% -34.6% 23.91%
Accrued Expenses $9.800M $20.33M $16.36M
YoY Change -44.03% -6.39% -7.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.400M $9.300M $19.10M
YoY Change -11.32% -26.77% 44.7%
Total Short-Term Liabilities $36.40M $48.96M $55.61M
YoY Change -41.48% -38.26% -22.15%
LONG-TERM LIABILITIES
Long-Term Debt $74.30M $73.60M $60.40M
YoY Change 1.09% 0.27% 22.52%
Other Long-Term Liabilities $26.70M $2.276M $5.211M
YoY Change 434.0% -52.17% 9.96%
Total Long-Term Liabilities $101.0M $2.276M $5.211M
YoY Change 28.66% -52.17% 9.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.40M $48.96M $55.61M
Total Long-Term Liabilities $101.0M $2.276M $5.211M
Total Liabilities $195.4M $149.8M $121.3M
YoY Change 1.3% -4.89% -3.35%
SHAREHOLDERS EQUITY
Retained Earnings -$394.9M -$396.3M
YoY Change 18.53% 26.96%
Common Stock $63.00K $58.00K
YoY Change 21.15% 13.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.90M $20.82M $1.852M
YoY Change
Total Liabilities & Shareholders Equity $227.3M $200.5M $141.0M
YoY Change -4.04% -24.35% -42.67%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q4
OPERATING ACTIVITIES
Net Income -$13.10M $1.392M -$24.88M
YoY Change -39.39% -106.62% 138.93%
Depreciation, Depletion And Amortization $500.0K $481.0K $740.0K
YoY Change 13.64% 145.41% -161.67%
Cash From Operating Activities -$28.32M -$25.33M -$22.16M
YoY Change 17.56% -9.05% 6.18%
INVESTING ACTIVITIES
Capital Expenditures -$660.0K $300.0K -$1.540M
YoY Change -82.81% -60.78% -48.84%
Acquisitions
YoY Change
Other Investing Activities $40.00K $24.45M $15.06M
YoY Change -97.59% -2363.89% 71.33%
Cash From Investing Activities -$610.0K $24.15M $13.52M
YoY Change -72.15% -1412.39% 133.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.10M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 61.90M 52.11M -1.690M
YoY Change 2175.74% 31.42% -108.18%
NET CHANGE
Cash From Operating Activities -28.32M -25.33M -22.16M
Cash From Investing Activities -610.0K 24.15M 13.52M
Cash From Financing Activities 61.90M 52.11M -1.690M
Net Change In Cash 32.97M 50.94M -10.33M
YoY Change -239.94% 410.84% -285.46%
FREE CASH FLOW
Cash From Operating Activities -$28.32M -$25.33M -$22.16M
Capital Expenditures -$660.0K $300.0K -$1.540M
Free Cash Flow -$27.66M -$25.63M -$20.62M
YoY Change 36.59% -10.43% 15.45%

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IncreaseDecreaseDisposalGroupIncludingDiscontinuedOperationAssetsCurrent
-3383000
CY2018Q1 fbio Increase Decrease Disposal Group Including Discontinued Operation Assets Noncurrent
IncreaseDecreaseDisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
427000
CY2018Q1 fbio Increase Decrease Disposal Group Including Discontinued Operation Liabilities Current
IncreaseDecreaseDisposalGroupIncludingDiscontinuedOperationLiabilitiesCurrent
-4040000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-25325000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-25463000
CY2018Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-2381000
CY2018Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
49522000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Commissions Compensation And Fees
DisposalGroupIncludingDiscontinuedOperationCommissionsCompensationAndFees
43561000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Clearing Fees
DisposalGroupIncludingDiscontinuedOperationClearingFees
743000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Communications
DisposalGroupIncludingDiscontinuedOperationCommunications
760000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Occupancy
DisposalGroupIncludingDiscontinuedOperationOccupancy
955000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Licenses And Registration
DisposalGroupIncludingDiscontinuedOperationLicensesAndRegistration
637000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Professional Fees
DisposalGroupIncludingDiscontinuedOperationProfessionalFees
1393000
CY2018Q1 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
2000
CY2018Q1 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
859000
CY2018Q1 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
1781000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Change In Fair Value Of Derivative Liabilities
DisposalGroupIncludingDiscontinuedOperationChangeInFairValueOfDerivativeLiabilities
-1088000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Interest Expense And Financing Fees
DisposalGroupIncludingDiscontinuedOperationInterestExpenseAndFinancingFees
-320000
CY2018Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
13089000
CY2018Q1 fbio Disposal Group Including Discontinued Operation Effect Of Elimination Entry
DisposalGroupIncludingDiscontinuedOperationEffectOfEliminationEntry
-305000
CY2018Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-2381000
CY2019Q1 fbio Disposal Group Including Discontinued Operation Proceeds From Sale Of Nhld Investments
DisposalGroupIncludingDiscontinuedOperationProceedsFromSaleOfNHLDInvestments
13089000
CY2019Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
13089000
CY2019Q1 fbio Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
4855000
CY2018Q4 fbio Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
3805000
CY2019Q1 fbio Accrued Research And Development Expense Milestones
AccruedResearchAndDevelopmentExpenseMilestones
0
CY2018Q4 fbio Accrued Research And Development Expense Milestones
AccruedResearchAndDevelopmentExpenseMilestones
200000
CY2019Q1 fbio Accrued Research And Development Expense Manufacturing
AccruedResearchAndDevelopmentExpenseManufacturing
826000
CY2018Q4 fbio Accrued Research And Development Expense Manufacturing
AccruedResearchAndDevelopmentExpenseManufacturing
826000
CY2019Q1 fbio Accrued Research And Development Expense Clinical Supplies
AccruedResearchAndDevelopmentExpenseClinicalSupplies
215000
CY2018Q4 fbio Accrued Research And Development Expense Clinical Supplies
AccruedResearchAndDevelopmentExpenseClinicalSupplies
160000
CY2019Q1 fbio Accrued Research And Development Expenselicense Maintenance Fees
AccruedResearchAndDevelopmentExpenselicenseMaintenanceFees
489000
CY2018Q4 fbio Accrued Research And Development Expenselicense Maintenance Fees
AccruedResearchAndDevelopmentExpenselicenseMaintenanceFees
519000
CY2018Q1 us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
75000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
300000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
765000
CY2018Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
25000000
CY2019Q1 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
12560000
CY2018Q1 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
24000000
CY2019Q1 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
223000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
336000
CY2019Q1 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
6385000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
4567000
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000
CY2019Q1 fbio Preferred Stock Shares Designated
PreferredStockSharesDesignated
5000000
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000
CY2019Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000
CY2018Q4 fbio Preferred Stock Shares Designated
PreferredStockSharesDesignated
5000000
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000
CY2018Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1000000
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1000000
CY2019Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
63126521
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
57845447
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
63126521
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
57845447
CY2019Q1 us-gaap Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
475225
CY2018Q4 us-gaap Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
744332
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
3309000
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0
CY2019Q1 fbio Issuance Of Common Stock For At Market Offering
IssuanceOfCommonStockForAtMarketOffering
6142000
CY2019Q1 fbio Common Shares Issuable For Subordinated Note Financial Interest Expenses
CommonSharesIssuableForSubordinatedNoteFinancialInterestExpenses
484000
CY2019Q1 fbio Common Shares Issued For Subordinated Note Financial Interest Expenses
CommonSharesIssuedForSubordinatedNoteFinancialInterestExpenses
0
CY2019Q1 fbio Common Shares Issued For Opus Interest Expenses In Value
CommonSharesIssuedForOpusInterestExpensesInValue
281000
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-17647000
CY2019Q1 us-gaap Net Income Loss
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1392000
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
4795000
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0
CY2018Q1 fbio Issuance Of Common Stock For At Market Offering
IssuanceOfCommonStockForAtMarketOffering
318000
CY2018Q1 fbio Adjustments To Additional Paid In Capital At Market Offering Costs
AdjustmentsToAdditionalPaidInCapitalAtMarketOfferingCosts
-6000
CY2018Q1 fbio Common Shares Issuable For Subordinated Note Financial Interest Expenses
CommonSharesIssuableForSubordinatedNoteFinancialInterestExpenses
489000
CY2018Q1 fbio Common Shares Issued For Subordinated Note Financial Interest Expenses
CommonSharesIssuedForSubordinatedNoteFinancialInterestExpenses
0
CY2018Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
586000
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-17200000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-21018000
CY2019Q1 fbio Annual Management Services Agreement Fee Income Expense
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0
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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11059000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1840000
CY2019Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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13089000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
24148000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1840000
CY2019Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
586000
CY2018Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
586000
CY2019Q1 fbio Proceeds From Issuance Of At Market Offering
ProceedsFromIssuanceOfAtMarketOffering
6251000
CY2018Q1 fbio Proceeds From Issuance Of At Market Offering
ProceedsFromIssuanceOfAtMarketOffering
229000
CY2019Q1 fbio Payment Of Cost Related To Atthemarket Offering
PaymentOfCostRelatedToAtthemarketOffering
109000
CY2018Q1 fbio Payment Of Cost Related To Atthemarket Offering
PaymentOfCostRelatedToAtthemarketOffering
6000
CY2019Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
34999000
CY2018Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
23011000
CY2019Q1 us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
3500000
CY2018Q1 us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
2167000
CY2019Q1 fbio Proceeds From Issuance Of Subsidiaries At Market Offering
ProceedsFromIssuanceOfSubsidiariesAtMarketOffering
366000
CY2019Q1 fbio Payment Of Cost Related To Subsidiaries At The Market Offering
PaymentOfCostRelatedToSubsidiariesAtTheMarketOffering
11000
CY2018Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
96000
CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
255000
CY2018Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
21707000
CY2019Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
67000
CY2018Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
1814000
CY2019Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
15000000
CY2019Q1 fbio Payment Of Debt Issuance Costs Associated With Subsidiary Convertible Notes
PaymentOfDebtIssuanceCostsAssociatedWithSubsidiaryConvertibleNotes
230000
CY2018Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1858000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
50936000
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9971000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81582000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110958000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
132518000
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120929000
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
1100000
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
394000
CY2018Q1 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
853000
CY2019Q1 fbio Settlement Of Restricted Shares Units Into Common Stock
SettlementOfRestrictedSharesUnitsIntoCommonStock
2000
CY2018Q1 fbio Settlement Of Restricted Shares Units Into Common Stock
SettlementOfRestrictedSharesUnitsIntoCommonStock
1000
CY2019Q1 fbio Unpaid Debt Offering Cost
UnpaidDebtOfferingCost
1202000
CY2019Q1 fbio Issue Of Common Stock For Acquiring License Value
IssueOfCommonStockForAcquiringLicenseValue
164000
CY2019Q1 fbio Common Shares Issued For2017 Subordinated Note Financing Interest Expense
CommonSharesIssuedFor2017SubordinatedNoteFinancingInterestExpense
495000
CY2018Q1 fbio Common Shares Issued For2017 Subordinated Note Financing Interest Expense
CommonSharesIssuedFor2017SubordinatedNoteFinancingInterestExpense
500000
CY2019Q1 fbio Noncash Or Part Noncash Acquisition Fixed Assets Acquired Payable
NoncashOrPartNoncashAcquisitionFixedAssetsAcquiredPayable
191000
CY2018Q1 fbio Noncash Or Part Noncash Acquisition Fixed Assets Acquired Payable
NoncashOrPartNoncashAcquisitionFixedAssetsAcquiredPayable
2321000
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y8M4D
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company&#8217;s unaudited condensed consolidated financial statements include certain amounts that are based on management&#8217;s best estimates and judgments. The Company&#8217;s significant estimates include, but are not limited to, useful lives assigned to long-lived and intangible assets, fair value measurements, stock-based compensation, common stock issued to acquire licenses, investments, accrued expenses, derivative warrant liabilities, revenue with customers, provisions for income taxes and contingencies. Due to the uncertainty inherent in such estimates, actual results may differ from these estimates.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1085501
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.75
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y11M4D
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2019Q1 fbio Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedIntrinsicValue
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1085501
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.75
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
155322000
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y8M4D
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1085501
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
3.75
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
155322000
CY2019Q1 fbio Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-351000
CY2019Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
11056000
CY2018Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
10905000
CY2019Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22618000
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1481000
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24989000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48506994
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42518403
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63811136
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42518403
CY2019Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
586000
CY2019Q1 fbio Adjustments To Additional Paid In Capital Partner Sale Of Stock Net
AdjustmentsToAdditionalPaidInCapitalPartnerSaleOfStockNet
31499000
CY2019Q1 fbio Adjustments To Additional Paid In Capital Subsidiary At Market Offering
AdjustmentsToAdditionalPaidInCapitalSubsidiaryAtMarketOffering
355000
CY2019Q1 us-gaap Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
4849000
CY2019Q1 fbio Adjustments To Additional Paid In Capital Stock Issued For License Expenses
AdjustmentsToAdditionalPaidInCapitalStockIssuedForLicenseExpenses
0
CY2019Q1 fbio Adjustments To Additional Paid In Capital And Noncontrolling Interest From Subsidiary Equity Issuance
AdjustmentsToAdditionalPaidInCapitalAndNoncontrollingInterestFromSubsidiaryEquityIssuance
0
CY2018Q1 fbio Adjustments To Additional Paid In Capital Stock Issued For License Expenses
AdjustmentsToAdditionalPaidInCapitalStockIssuedForLicenseExpenses
22000
CY2018Q1 fbio Adjustments To Additional Paid In Capital Subsidiary Public Offering
AdjustmentsToAdditionalPaidInCapitalSubsidiaryPublicOffering
20844000
CY2018Q1 fbio Stock Issued During Period Value Cash Less Exercise Of Warrants
StockIssuedDuringPeriodValueCashLessExerciseOfWarrants
96000
CY2018Q1 fbio Adjustments To Additional Paid In Capital Disposal Of National
AdjustmentsToAdditionalPaidInCapitalDisposalOfNational
-710000
CY2018Q1 fbio Adjustments To Additional Paid In Capital And Noncontrolling Interest From Subsidiary Equity Issuance
AdjustmentsToAdditionalPaidInCapitalAndNoncontrollingInterestFromSubsidiaryEquityIssuance
0
CY2019Q1 fbio Amortization Of Operating Lease Right Of Use Asset
AmortizationOfOperatingLeaseRightOfUseAsset
381000
CY2019Q1 fbio Proceeds From Deconsolidation Of Caelum
ProceedsFromDeconsolidationOfCaelum
-1201000
CY2018Q1 fbio Receivable From Atm Issuances
ReceivableFromAtmIssuances
89000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
767000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
22618000
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.062
CY2018Q1 us-gaap Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
6000
CY2018Q1 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
-2076000
CY2019Q1 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
1201000
CY2019Q1 us-gaap Disposal Group Including Discontinued Operation Prepaid And Other Assets Current
DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent
6000
CY2019Q1 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
1207000
CY2019Q1 us-gaap Disposal Group Including Discontinued Operation Accounts Payable And Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilitiesCurrent
2246000
CY2019Q1 fbio Disposal Group Including Discontinued Operation Interest Payable
DisposalGroupIncludingDiscontinuedOperationInterestPayable
198000
CY2019Q1 fbio Disposal Group Including Discontinued Operation Note Payable Related Party
DisposalGroupIncludingDiscontinuedOperationNotePayableRelatedParty
929000
CY2019Q1 fbio Disposal Group Including Discontinued Operation Note Payable
DisposalGroupIncludingDiscontinuedOperationNotePayable
9914000
CY2019Q1 fbio Disposal Group Including Discontinued Operation Warrant Liability
DisposalGroupIncludingDiscontinuedOperationWarrantLiability
991000
CY2019Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
14384000
CY2019Q1 fbio Net Liabilities Impacted By Deconsolidation
NetLiabilitiesImpactedByDeconsolidation
13177000
CY2019Q1 fbio Disposal Group Including Discontinued Operation Interest Payable Related Party
DisposalGroupIncludingDiscontinuedOperationInterestPayableRelatedParty
106000
CY2019Q1 fbio Fair Value Of Caelum
FairValueOfCaelum
11056000
CY2019Q1 fbio Net Liabilities Impacted By Deconsolidation
NetLiabilitiesImpactedByDeconsolidation
13177000
CY2019Q1 us-gaap Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
4849000
CY2019Q1 fbio Write Off Of Msa Fee Due Fortress
WriteOffOfMsaFeeDueFortress
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At its option, upon ten business days&#8217; prior written notice to Horizon, Mustang may prepay all or any portion greater than or equal to $500,000 of each of the outstanding advances by paying the entire principal balance (or portion thereof) and all accrued and unpaid interest, subject to a prepayment charge of 4.0% of the then outstanding principal balance of each advance if such advance is prepaid on or before the Loan Amortization Date (as defined in the Loan Agreement), 3% if such advance is prepaid after the Loan Amortization Date applicable to such Loan, but on or prior to twelve months following the Loan Amortization Date, and 2% thereafter. In addition, a final payment equal to $0.3 million for each advance (i.e., $0.8 million in aggregate with respect to the initial $15.0 million) is due on the maturity date or other date of payment in full. Amounts outstanding during an event of default shall be payable on demand and shall accrue interest at an additional rate of 5.0% per annum of the past due amount outstanding.
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CY2019Q1 dei Entity Registrant Name
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Fortress Biotech, Inc.
CY2019Q1 dei Entity Central Index Key
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0001429260
CY2019Q1 dei Current Fiscal Year End Date
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CY2019Q1 dei Entity Filer Category
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Accelerated Filer
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FBIO
CY2019Q2 dei Entity Common Stock Shares Outstanding
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65230630
CY2019Q1 dei Entity Emerging Growth Company
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CY2019Q1 us-gaap Stockholders Equity
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19743000
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200538000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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CY2019Q1 us-gaap Fair Value Adjustment Of Warrants
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CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2018Q1 us-gaap Revenues
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CY2019Q1 us-gaap Assets
Assets
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CY2018Q4 us-gaap Assets
Assets
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CY2019Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2019Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
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2403000
CY2019Q1 fbio Disposal Group Including Discontinued Operation Effect Of Elimination Entry
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CY2019Q1 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
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CY2019Q1 us-gaap Lease Cost
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CY2019Q1 fbio Contingent Earn Out Payments Measurement Second Model
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at any time beginning on January 1, 2029 that IV Tramadol has generated at least $1.5 billion in aggregate Net Sales, then with respect to each calendar year in which IV Tramadol generates $100 million or more in Net Sales, each Holder shall be entitled to receive their pro rata share of an amount equal to 20% of the Gross Profit generated by IV Tramadol
CY2019Q1 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
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CY2019Q1 us-gaap Default Longterm Debt Description Of Violation Or Event Of Default
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The events of default under the Loan Agreement include, among other things, without limitation, and subject to customary grace periods, (1) Mustang&#8217;s failure to make any payments of principal or interest under the Loan Agreement, promissory notes or other loan documents, (2) Mustang&#8217;s breach or default in the performance of any covenant under the Loan Agreement, (3) the occurrence of a material adverse change, (4) Mustang making a false or misleading representation or warranty in any material respect, (5) Mustang&#8217;s insolvency or bankruptcy, (6) certain attachments or judgments on the Mustang&#8217;s assets, (7) the occurrence of any material default under certain agreements or obligations of Mustang involving indebtedness in excess of $0.3 million or (8) failing to maintain minimum monthly cash balances which range from approximately $8.0 to $13.0 million over the term of the loan. If an event of default occurs, Horizon is entitled to take enforcement action, including acceleration of amounts due under the Loan Agreement.
CY2018Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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13089000
CY2018Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
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13089000

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