Fortress tumbles as FDA declines to approve genetic disorder drug

Fortress Biotech

01/10/2025 13:29

** Shares of drug developer Fortress Biotech FBIO.O fall 32.6% to $2.50 premarket

** Co says the U.S. FDA declined to approve its and partner   Zydus Lifesciences' ZYDU.NS drug CUTX-101 for Menkes disease in pediatric patients

** Says the FDA noted deficiencies at the drug's manufacturing facility

** Menkes disease is a genetic disorder in which the body has a problem absorbing and distributing copper to bodily organs

** Up to last close, stock up 82.5% YTD

 (Reporting by Christy Santhosh)

 ((Christy.Santhosh@thomsonreuters.com))