April 24, 2020

Lindsay A. Rosenwald, M.D.
Executive Chairman, Chief Executive Officer and President
Fortress Biotech, Inc.
2 Gansevoort Street, 9th Floor
New York, NY 10014

       Re: Fortress Biotech, Inc.
           Preliminary Proxy Statement on Schedule 14A
           Filed April 17, 2020
           File No. 001-35366

Dear Dr. Rosenwald:

       We have reviewed your filing and have the following comment.

       Please respond to these comment within ten business days by providing
the requested
information or advise us as soon as possible when you will respond. If you do
not believe our
comment applies to your facts and circumstances, please tell us why in your
response.

       After reviewing your response to this comment, we may have additional
comments.

Preliminary Proxy Statement on Schedule 14A filed April 17, 2020

General

1.    Please revise your disclosure to address the effects of the proposed
increase in the number
      of authorized common shares, including the potential dilutive and
anti-takeover effects.
      Please also revise your disclosure to address the effects of the dividend
payment date
      change for the company's 9.375% Series A Cumulative Redeemable Perpetual
Preferred
      Stock from quarterly to monthly.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.
 Lindsay A. Rosenwald, M.D.
Fortress Biotech, Inc.
April 24, 2020
Page 2

        You may contact Jeffrey Gabor at 202-551-2544 or Celeste Murphy at
202-551-3257
iwith any questions.



                                                        Sincerely,
FirstName LastNameLindsay A. Rosenwald, M.D.
                                                        Division of Corporation
Finance
Comapany NameFortress Biotech, Inc.
                                                        Office of Life Sciences
April 24, 2020 Page 2
cc:       Mark F. McElreath, Esq.
FirstName LastName