Quarterly ResultMay 11, 2026, 09:07 AM
Forte Biosciences Q1 Net Loss $(22.1)M; Raises $162.1M Post-Quarter
AI Summary
Forte Biosciences reported a net loss of $22.1 million for the first quarter of 2026, an increase from $15.7 million in the same period last year, driven by higher research and development expenses. The company also experienced increased cash usage from operations. However, subsequent to the quarter-end, Forte Biosciences significantly bolstered its liquidity by closing a public offering in April 2026, raising net proceeds of $162.1 million.
Key Highlights
- Q1 2026 net loss was $(22.1) million, compared to $(15.7) million in Q1 2025.
- Cash and cash equivalents stood at $58.2 million as of March 31, 2026.
- Cash used in operating activities increased to $(18.8) million in Q1 2026 from $(10.4) million in Q1 2025.
- Accumulated deficit reached $245.5 million as of March 31, 2026.
- Research and development expenses rose to $20.3 million in Q1 2026 from $12.5 million in Q1 2025.
- Subsequent to quarter-end, Forte Biosciences raised $162.1 million in net proceeds from a public offering.
- Total liabilities increased to $25.1 million as of March 31, 2026, from $21.8 million at December 31, 2025.