Forte Biosciences More Than Doubles on $53M Private Placement

Dow Jones

2024-11-21

By Josh Beckerman

Forte Biosciences shares more than doubled after the company announced a $53 million private placement to support the advancement of FB102 across autoimmune indications.

The stock was recently up 121%, to $13.10, Wednesday.

Investors in the placement include OrbiMed, Janus Henderson Investors, Tybourne Capital Management, Alger, Ikarian Capital, BVF Partners and Red Hook Fund.

Forte completed a healthy volunteer study of FB102 and a celiac disease trial is underway. The company expects to advance FB102 into additional indications over the next 12 months. Forte will provide more details during its R&D Day on Dec. 3.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 20, 2024 13:08 ET (18:08 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Forte will provide more details during its R&amp;D Day on Dec. 3. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 20, 2024 13:08 ET (18:08 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2485212300","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485212300","pubTimestamp":1732126080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Forte Biosciences shares more than doubled after the company announced a $53 million private placement to support the advancement of FB102 across autoimmune indications.The stock was recently up 121%, to $13.10, Wednesday.Investors in the placement include OrbiMed, Janus Henderson Investors, Tybourne Capital Management, Alger, Ikarian Capital, BVF Partners and Red Hook Fund.Forte completed a healthy volunteer study of FB102 and a celiac disease trial is underway. 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The company expects to advance FB102 into additional indications over the next 12 months. Forte will provide more details during its R&D Day on Dec. 3. \n\n\n \n\n\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 20, 2024 13:08 ET (18:08 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}