Quarterly ResultMay 14, 2026, 04:47 PM
Forte Biosciences FB102 Gets Fast Track for Celiac Disease
AI Summary
Forte Biosciences announced its first quarter 2026 financial results and provided a business update, highlighting that its drug candidate FB102 received Fast Track Designation from the FDA for celiac disease. The company reported an increase in R&D expenses to $20.5 million and a net loss of $(22.1) million for Q1 2026. Forte Biosciences ended the quarter with $58.2 million in cash and cash equivalents, further strengthening its financial position by raising $172.5 million in gross proceeds in April 2026.
Key Highlights
- FB102 received Fast Track Designation from the FDA for celiac disease.
- Topline results for FB102 Phase 2 celiac disease study are expected in 2026.
- Q1 2026 R&D expenses increased to $20.5 million from $12.7 million in Q1 2025.
- Q1 2026 net loss was $(22.1) million, or $(1.24) per share.
- Cash and cash equivalents were $58.2 million as of March 31, 2026.
- Forte Biosciences raised $172.5 million in gross proceeds through an offering in April 2026.
- Q1 2026 general and administrative expenses decreased to $2.0 million from $3.4 million in Q1 2025.
Price Impact
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