{"id":393094,"date":"2020-12-03T16:03:04","date_gmt":"2020-12-03T21:03:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393094"},"modified":"2020-12-03T16:03:04","modified_gmt":"2020-12-03T21:03:04","slug":"the-law-offices-of-frank-r-cruz-announces-investigation-of-fortress-biotech-inc-fbio-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-investigation-of-fortress-biotech-inc-fbio-on-behalf-of-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces Investigation of Fortress Biotech, Inc. (FBIO) on Behalf of Investors"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Announces Investigation of Fortress Biotech, Inc. (FBIO) on Behalf of Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/b><\/a> announces an investigation of Fortress Biotech, Inc. (\u201cFortress\u201d or the \u201cCompany\u201d) (NASDAQ: FBIO<\/a>) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws.\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nFortress develops and commercializes pharmaceutical and biotechnology products. In December 2019, the Company’s majority-controlled subsidiary, Avenue Therapeutics, Inc. (“Avenue”), submitted a New Drug Application (“NDA”) for its intravenous (“IV”) Tramadol product to the U.S. Food and Drug Administration (“FDA”) for the management of moderate to moderately severe pain in adults in a medically supervised health care setting.\n<\/p>\n

\nOn October 12, 2020, Avenue disclosed receipt of a Complete Response Letter (“CRL”) from the FDA regarding the NDA for its IV Tramadol product. Specifically, the FDA advised Avenue that “it cannot approve the application in its present form” because “IV tramadol, intended to treat patients in acute pain who require an opioid, is not safe for the intended patient population.” Specifically, the CRL stated: “[I]f a patient requires an analgesic between the first dose of IV tramadol and the onset of analgesia, a rescue analgesic would be needed. The likely choice would be another opioid, which would result in opioid ‘stacking’ and increase the likelihood of opioid-related adverse effects.”\n<\/p>\n

\nOn this news, Fortress’s stock price fell $1.00 per share, or 23.98%, to close at $3.17 per share on October 12, 2020, thereby injuring investors.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased Fortress securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201203005299\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Announces Investigation of Fortress Biotech, Inc. (FBIO) on Behalf of Investors LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Fortress Biotech, Inc. (\u201cFortress\u201d or the \u201cCompany\u201d) (NASDAQ: FBIO) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. Fortress develops and commercializes pharmaceutical and biotechnology products. In December 2019, the Company’s majority-controlled subsidiary, Avenue Therapeutics, Inc. (“Avenue”), submitted a New Drug Application (“NDA”) for its intravenous (“IV”) Tramadol product to the U.S. Food and Drug Administration (“FDA”) for the management of moderate to moderately severe pain in adults in a medically supervised … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces Investigation of Fortress Biotech, Inc. (FBIO) on Behalf of Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-393094","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces Investigation of Fortress Biotech, Inc. 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(\u201cFortress\u201d or the \u201cCompany\u201d) (NASDAQ: FBIO) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. Fortress develops and commercializes pharmaceutical and biotechnology products. In December 2019, the Company’s majority-controlled subsidiary, Avenue Therapeutics, Inc. (“Avenue”), submitted a New Drug Application (“NDA”) for its intravenous (“IV”) Tramadol product to the U.S. Food and Drug Administration (“FDA”) for the management of moderate to moderately severe pain in adults in a medically supervised … Continue reading "The Law Offices of Frank R. Cruz Announces Investigation of Fortress Biotech, Inc. 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