Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue    
Product revenue, net $ 55,134 $ 59,662
Collaboration revenue 1,500 5,229
Other revenue 1,000 19,519
Net revenue 57,675 84,513
Operating expenses    
Cost of goods sold - product revenue 20,879 22,893
Amortization of acquired intangible assets 3,424 3,767
Research and development 56,629 101,747
Research and development - licenses acquired 252 4,324
Selling, general and administrative 87,731 90,981
Loss recovery (4,553)  
Asset impairment 3,692 3,143
Total operating expenses 168,054 226,855
Loss from operations (110,379) (142,342)
Other income (expense)    
Interest income 2,683 3,003
Interest expense and financing fee (13,527) (15,315)
Gain (loss) on common stock warrant liabilities (638) 4,424
Other income (expense) 1,318 (3,403)
Total other income (expense) (10,164) (11,291)
Loss before income tax expense (120,543) (153,633)
Income tax expense 312 521
Net loss (120,855) (154,154)
Net loss attributable to non-controlling interests 74,858 93,517
Net loss attributable to Fortress (45,997) (60,637)
Preferred A dividends declared and paid and/or cumulated, and Fortress' share of subsidiary deemed dividends (9,893) (8,032)
Net loss attributable to common stockholders $ (55,890) $ (68,669)
Net loss per common share attributable to common stockholders - basic $ (2.69) $ (8.47)
Net loss per common share attributable to common stockholders - diluted $ (2.69) $ (8.47)
Weighted average common shares outstanding - basic 20,784,334 8,110,906
Weighted average common shares outstanding - diluted 20,784,334 8,110,906
Related party    
Revenue    
Revenue - related party $ 41 $ 103
Other revenue $ 1,000 $ 19,519