Fortress Biotech Amends Credit Agreement with Oaktree
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Fortress Biotech amended its Credit Agreement with Oaktree Fund Administration, extending the loan maturity date to June 30, 2028, and adjusting the principal repayment schedule. The amendment also revised financial covenants for Journey Medical Corporation's net sales requirements. Additionally, Fortress Biotech granted warrants to lenders for purchasing shares of its common stock. The most recent analyst rating on FBIO stock is a Buy with a $17.00 price target, though Spark's AI Analyst rates it as Neutral due to financial challenges.
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