Forte Biosciences, Inc. (FBRX), a clinical-stage biopharmaceutical company, priced its public offering of 5.71 million shares at $26.27 per share. The gross proceeds from the offering are expected to be approximately $150 million.
Following the news, FBRX is currently surging 23.03% to $32.32.
Forte intends to use the net proceeds of the offering for working capital and other general corporate purposes, including clinical development of its product candidate. The offering is expected to close on or about April 10, 2026.
The company's lead investigational product candidate is FB-102, in Phase 1 and 2 trials designed for various autoimmune and autoimmune-related indications, including graft-vs-host disease, vitiligo, and alopecia areata, as well as for celiac disease and non-segmental vitiligo.
In addition, Forte has granted the underwriters a 30-day option to purchase up to an additional 0.86 million shares of its common stock at the public offering price, less the underwriting discounts and commissions.
Guggenheim Securities and Barclays are acting as joint book-running managers for the offering.
FBRX has traded between $4.90 and $35.62 over the last year. The stock closed Wednesday's review at $26.27, up 0.38%.
For the full year 2025, the firm reported a wider net loss of $69.38 million, up from $35.48 million in the prior year. However, on a per-share basis, the loss narrowed to $4.71 from $12.17 in the year-ago period.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.