FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ROSENWALD LINDSAY A MD
   2. Issuer Name and Ticker or Trading Symbol
Fortress Biotech, Inc. [FBIO] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
C/O FORTRESS BIOTECH, INC., 3 COLUMBUS CIRCLE, 15TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
12/01/2015
(Street)

NEW YORK, NY US 10019		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.001 12/01/2015   P   586 (1) A $ 2.41 4,792,692 D  
Common Stock, par value $0.001               170,983 I By Capretti Grandi LLC
Common Stock, par value $0.001               453,822 I By LAR Family Trusts
Common Stock, par value $0.001               742,861 I By Paramount Biosciences
Common Stock, par value $0.001               100,000 I By The Lindsay A. Rosenwald Rhode Island Irrevocable Trust U/T/A DTD 8-28-01
Common Stock, par value $0.001               80,000 I By The Lindsay A. Rosenwald Alaska Irrevocable Trust U/T/A DTD 8-29-01
Common Stock, par value $0.001               720,000 I By The Lindsay A. Rosenwald 2000 Irrevocable Trust U/T/A DTD 5-24-00
Common Stock, par value $0.001               100,000 I By The Lindsay A. Rosenwald Nevada Irrevocable Indenture of Trust U/T/A DTD 8-29-01

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options to purchase Common Stock $ 1.37               (2) 10/05/2020 Common Stock 25,000   25,000 D  
Options to purchase Common Stock $ 6.25               (3) 02/10/2022 Common Stock 15,000   15,000 D  
Options to purchase Common Stock $ 7.42               (4) 02/07/2023 Common Stock 15,000   15,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ROSENWALD LINDSAY A MD
C/O FORTRESS BIOTECH, INC.
3 COLUMBUS CIRCLE, 15TH FLOOR
NEW YORK, NY US 10019		   X   X   President and CEO  

Signatures

 /s/ Lindsay A. Rosenwald   12/09/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These shares were acquired under the Issuer's 2012 Employee Stock Purchase Plan.
(2) This option is fully vested.
(3) One-third of the shares vested on each of February 10, 2013, 2014 and 2015.
(4) One-third of the shares will vest on each of February 7, 2014, 2015 and 2016.

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