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Forte Biosciences, Inc. reports developments tied to FB102, its proprietary anti-CD122 monoclonal antibody therapeutic candidate for autoimmune and autoimmune-related diseases. Recurring updates cover clinical development in celiac disease, non-segmental vitiligo and alopecia areata, including regulatory designations such as Fast Track status in celiac disease.
Company news also includes quarterly and annual financial results, research and development spending tied to FB102, public financing activity, investor meeting participation and Nasdaq-required disclosures for equity inducement awards under its 2020 Inducement Equity Incentive Plan.
Forte Biosciences, Inc. (NASDAQ: FBRX) will announce its third quarter 2020 results after market close on November 9, 2020, followed by a conference call at 4:30 PM ET. The call will discuss the results and provide a business update. Forte is developing FB-401, a treatment for inflammatory skin diseases, currently in a multi-center clinical trial that includes pediatric, adolescent, and adult subjects aged 2 and older. The trial addresses a significant unmet need for effective therapies in pediatric atopic dermatitis.
Forte Biosciences, Inc. (NASDAQ: FBRX) has successfully closed its underwritten public offering, issuing 1,614,035 shares at a price of $28.50 per share, generating gross proceeds of approximately $46.0 million. The offering included 210,526 shares from the underwriters' option. The offering was managed by Ladenburg Thalmann, Truist Securities, and Chardan, with Brookline Capital Markets acting as co-manager. Forte, a clinical-stage biopharmaceutical company, is focused on developing its lead product, FB-401, for inflammatory skin diseases, particularly atopic dermatitis.
Forte Biosciences, Inc. (NASDAQ: FBRX) has announced an underwritten public offering of its common stock with plans to offer an additional 15% to underwriters. Proceeds will support working capital, regulatory approvals, and clinical development of its product candidates. The offering is backed by Ladenburg Thalmann, Truist Securities, and Chardan as joint book-running managers. A shelf registration statement for this offering was filed in May 2018 and is active. There is no assurance regarding completion or terms of the offering.
Forte Biosciences (NASDAQ: FBRX) announced that the FDA has granted Fast Track Designation to its candidate FB-401 for treating atopic dermatitis. FB-401 is a live biotherapeutic using selected strains of Roseomonas mucosa, showing excellent tolerability and significant improvement in clinical trials. The company is currently enrolling participants for further trials. Fast Track designation will facilitate the development and review process, potentially expediting FB-401's availability for patients with this condition.
Forte Biosciences, Inc. (NASDAQ: FBRX) has announced the issuance of an equity inducement award for the purchase of 60,000 shares of common stock to a new non-executive employee. This award is part of NASDAQ requirements and will vest over four years, with 25% vested after one year. Forte is a clinical-stage company focused on developing FB-401, a treatment for inflammatory skin diseases, currently in Phase 2 clinical trials after successful Phase 1/2a testing. The company aims to address the unmet needs of pediatric atopic dermatitis patients.