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Forte Biosciences, Inc. (symbol: FBRX) is a pioneering biopharmaceutical company dedicated to creating innovative therapies for patients with autoimmune diseases and other serious conditions. Founded in 2007, Forte Biosciences is driven by a vision to reduce cancer mortality and increase patient lifespan through advanced gene therapy technologies.
At the core of Forte's approach is its novel gene therapy platform utilizing retroviral replicating vectors (RRVs). This proprietary technology aims to selectively deliver therapeutic genes into the DNA of cancer cells, thereby activating the patient's immune system from within to combat the disease. This method is designed to minimize the autoimmune toxicities commonly associated with other treatments, providing a safer alternative for patients.
Forte Biosciences is currently advancing its product candidate, FB-102, through preclinical trials. FB-102 is a proprietary therapeutic molecule showing promising potential in treating a variety of autoimmune conditions, including graft-versus-host disease (GvHD), vitiligo, and alopecia areata (AA). These trials represent a significant step forward in the development of treatments that could have far-reaching impacts on patient care and disease management.
The company's commitment to innovation and patient care is further demonstrated through its strategic partnerships and collaborations in the biopharmaceutical field. By leveraging these partnerships, Forte Biosciences aims to bring cutting-edge therapies to market, ultimately improving patient outcomes and quality of life.
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Forte Biosciences (NASDAQ: FBRX) has secured an oversubscribed $53 million private placement from leading healthcare institutional investors, including OrbiMed, Janus Henderson Investors, and Tybourne Capital Management. The funding will support the clinical advancement of FB102 across autoimmune indications. The company has completed its healthy volunteer study and is currently conducting a celiac disease trial with topline results expected in Q2 2025. Forte plans to expand FB102 development into additional indications over the next 12 months.
Forte Biosciences (NASDAQ: FBRX) reported Q3 2024 results and provided updates on FB102 development. The company has begun dosing patients in a celiac disease clinical trial, with topline data expected in Q2 2025. Q3 financial results showed R&D expenses of $5.9M (down from $6.4M in Q3 2023) and G&A expenses of $2.8M (down from $3.8M). The company reported a net loss of $(4.54) per share and ended the quarter with $16.4M in cash. In August 2024, Forte implemented a 1:25 reverse split, resulting in 1.46M shares outstanding.
Forte Biosciences (NASDAQ: FBRX) announced its Q2 2024 results and provided a business update. The company reported progress with FB102, its anti-CD122 monoclonal antibody therapeutic candidate. Key highlights include:
1. Successful completion of the SAD/MAD phase 1 healthy volunteer study for FB102.
2. Initiation of a patient study in celiac disease, with data expected by Q2 2025.
3. R&D expenses decreased to $5.7 million in Q2 2024 from $7.1 million in Q2 2023.
4. General and administrative expenses increased to $7.1 million in Q2 2024 from $1.9 million in Q2 2023.
5. Net loss per share was $(0.27) for Q2 2024.
6. Cash and cash equivalents stood at $24.5 million as of June 30, 2024.
Forte Biosciences, a clinical-stage biopharmaceutical company focused on autoimmune diseases, announced the issuance of equity inducement awards under Nasdaq rules.
The Compensation Committee approved grants for 70,000 shares to new non-executive employees to incentivize their employment. Each award will vest over four years, with 25% vesting after one year and the remaining 75% vesting in equal monthly increments over the next three years.
The awards are part of Forte's 2020 Inducement Equity Incentive Plan and have terms similar to the 2021 Equity Incentive Plan.
Forte Biosciences, a clinical-stage biopharmaceutical firm, announced its Q1 2024 results. The company reported a net loss of $7.4 million, or $0.16 per share, an improvement from $0.32 per share in the same period last year. Forte's cash reserves stood at $30.4 million by the end of the quarter. R&D expenses dropped to $4.4 million from $4.8 million YoY, while G&A expenses rose to $3.5 million from $2.1 million. The company's phase 1 trial for its drug candidate FB102 has shown a good safety profile, with completion of multiple ascending dose cohorts expected mid-year. Forte plans to start patient-based studies by year-end, aiming to address various autoimmune diseases.
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