Forte Biosciences, Inc.

Forte Biosciences, Inc. stockholders approved the Amended and Restated 2021 Equity Incentive Plan at the 2026 Annual Meeting. This plan reserves 5,190,000 newly requested shares, plus up to 44,093 shares from previous plans, to attract and retain personnel through various equity grants. Additionally, stockholders elected three Class III directors, ratified KPMG LLP as the independent auditor for 2026, and approved, on an advisory basis, the compensation of named executive officers for fiscal year 2025.

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.

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.

Forte Biosciences, Inc. announced its 2026 Annual Meeting of Stockholders will take place virtually on Friday, May 29, 2026, at 9:00 a.m. Eastern Time. Stockholders will vote on the election of three Class III directors, the ratification of KPMG LLP as the independent auditor, an advisory vote on executive compensation for fiscal year 2025, and the approval of the Amended and Restated 2021 Equity Incentive Plan. The Board recommends voting "FOR" all proposals.

Forte Biosciences, Inc. has entered into an underwriting agreement with Guggenheim Securities, LLC for a public offering of 5,709,936 shares of its common stock at a price of $26.27 per share. This offering is expected to generate approximately $150 million in gross proceeds for the company, before deducting underwriting discounts and other expenses. The company anticipates net proceeds of about $141 million, which could increase to approximately $162 million if the underwriters fully exercise their option to purchase additional shares. This capital raise will bolster the company's financial position, providing funds for general corporate purposes, though it will result in dilution for existing shareholders.