Forte Biosciences More Than Doubles on $53M Private Placement

Dow Jones

Nov 21, 2024

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)

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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":0,"need_auth":true,"code":"91000000","status":"200"}}}