Forte Biosciences(NASDAQ) FBRX

**Forte Biosciences, Inc.** makes medicines for people with immune problems. These drugs help treat skin conditions and reactions to certain foods. The company is testing new ways to help patients feel better.

What is Forte Building?

• FB102 for Celiac: Candidate for treating an autoimmune disease that causes small intestine damage.
• FB102 for Vitiligo: Treatment in development for a skin condition causing color loss.
• FB102 for Alopecia: Medicine targeting an immune disorder that causes hair to fall out.
• FB102 for Diabetes: Potential therapy for type 1 diabetes involving immune-driven cell destruction.

Strategic Paths and Partnerships

• Signed a merger agreement in July 2026 to be acquired by argenx.
• Raised $172.5 million in gross proceeds through a public stock offering in April 2026.
• Started a Phase 2 study for celiac disease in July 2025.
• Gained FDA approval for a U.S.-based celiac clinical trial in November 2025.

Unique Ways to Fight Illness

Forte uses an antagonist to target specific receptors that control immune cells. This proprietary approach aims to stop immune reactions that damage body tissue.

The Numbers Behind the Research

• Net loss was $45.5 million for the six-month period ended June 30, 2026.
• Research and development expenses were $42.8 million for the six-month period ended June 30, 2026.
• Cash and investments reached $198.5 million as of June 30, 2026.
• Accumulated deficit reached $268.8 million as of June 30, 2026.

Bottom Line

Forte has evolved from a private startup into a public clinical-stage developer. Its pending acquisition by argenx indicates a shift toward integration with a larger partner.