Forte Biosciences, Inc. - FBRX STOCK NEWS

Forte Biosciences (NASDAQ: FBRX) recently announced its first quarter 2022 results, ending with approximately $40 million in cash. The company is shifting focus to develop FB-102, a novel treatment for autoimmune diseases, with potential market value exceeding $6 billion. The company appointed Stephen Doberstein, Ph.D. and Barbara Finck, M.D. to its Board of Directors, enhancing leadership experience. Research and development expenses have decreased significantly, with a net loss of $2.57 million for the quarter, an improvement from $4.80 million year-over-year.

Forte Biosciences, Inc. (NASDAQ: FBRX) announced that the topline data from its Phase 2 clinical trial of FB-401 for atopic dermatitis did not achieve statistical significance for the primary endpoint, EASI-50. While positive trends were noted in secondary endpoints, such as EASI-90, achieving success rates of 27.6% versus 20.5% in the control arm, the trial's primary endpoint showed 58% success compared to 60% in the placebo group. Following this setback, the company will not advance FB-401 and will update investors on future plans in the coming months. As of June 30, 2021, cash reserves were $50.8 million.

Forte Biosciences, Inc. (NASDAQ: FBRX) is set to announce topline data from its Phase 2 trial of FB-401 for treating atopic dermatitis on September 7, 2021. This follows the completion of a Phase 1/2a study showing promising safety and efficacy in pediatric and adult patients. The upcoming data release coincides with a conference call on the same day. Forte aims to meet the unmet need for effective therapies in pediatric atopic dermatitis, particularly after initiating a multi-center, placebo-controlled trial, which began in September 2020.

Forte Biosciences, Inc. (NASDAQ: FBRX) announced an equity inducement award for purchasing 90,000 shares of common stock to a new non-executive employee. This grant, approved by the Compensation Committee, serves as a material inducement for employment and will vest over four years. The award aligns with the terms of Forte's 2021 Equity Incentive Plan. Forte is a clinical-stage biopharmaceutical company focused on developing FB-401 for treating inflammatory skin diseases, including pediatric atopic dermatitis, with ongoing clinical trials demonstrating safety and activity across various age groups.

Forte Biosciences, Inc. (NASDAQ: FBRX) announced the issuance of an equity inducement award to a new non-executive employee, granting options to purchase 15,000 shares of common stock. This award is a requirement of NASDAQ Listing Rule 5635(c)(4) and will vest over four years. The company, focused on developing FB-401 for inflammatory skin diseases, has completed a Phase 1/2a study showing safety and efficacy in patients aged 3 and older. A multi-center, placebo-controlled trial of FB-401 is ongoing.

Forte Biosciences, Inc. (NASDAQ: FBRX) announced the issuance of an equity inducement award of 25,000 shares to a new non-executive employee. This grant aims to encourage employment and vests over four years. The company, focused on developing FB-401 for treating inflammatory skin diseases, has completed a Phase 1/2a study showing safety and activity across various age groups. A Phase 2 clinical trial has also been initiated for pediatric and adult atopic dermatitis patients. The company emphasizes that forward-looking statements may differ from actual outcomes due to various risks.

Forte Biosciences, Inc. (NASDAQ: FBRX) reported its first quarter 2021 results on May 10, highlighting significant progress in its clinical trial for FB-401, targeting atopic dermatitis. The trial has completed enrollment with 154 subjects, with topline results expected in Q3 2021. The company ended Q1 2021 with approximately $54.8 million in cash, sufficient for operations over the next year. Operating expenses rose due to increased R&D and administrative costs, leading to a net loss of $4.8 million, or $0.36 per share.

Forte Biosciences, Inc. (NASDAQ: FBRX) will disclose its first quarter 2021 results and provide a business update on May 10, 2021. The conference call will take place at 4:30 PM Eastern Time, accessible via phone or webcast. Forte is focused on developing FB-401, a live biotherapeutic for treating inflammatory skin diseases, particularly atopic dermatitis. A Phase 1/2a study has shown promising safety and efficacy across age groups. However, the company notes the potential risks associated with clinical development and obtaining necessary capital.

Forte Biosciences, Inc. (NASDAQ: FBRX) announced its fourth quarter and full year 2020 results on March 24, 2021. The company completed enrollment of 154 subjects in its clinical trial for FB-401, which received FDA Fast Track designation. Additionally, Forte raised $46 million through a public offering in November. As of December 31, 2020, the company's cash and cash equivalents totaled $58.8 million, sufficient for operations for at least 12 months. R&D expenses surged to $10 million, driven by clinical development costs, while 2020 losses per share were reported at $6.32.