Dallas-based Forte Biosciences, Inc. (Nasdaq: FBRX) announced the pricing of a USD 150 million public offering on April 8, 2026, with proceeds directed toward funding the clinical development of its lead asset FB102 and general corporate purposes. The capital raise will go towards advancing Forte's autoimmune disease pipeline as FB102 moves through early-stage human trials. The offering was priced at USD 26.27 per share, with all shares being offered by Forte itself.
The offering comprises 5,709,936 shares of common stock at USD 26.27 per share, generating gross proceeds of approximately USD 150 million before deducting underwriting discounts, commissions, and other offering expenses. Forte has also granted the underwriters a 30-day overallotment option to purchase up to an additional 856,490 shares at the public offering price, less applicable discounts. Guggenheim Securities and Barclays Capital are acting as joint book-running managers for the transaction. The offering was expected to close on or about April 10, 2026, subject to customary closing conditions.
Company overview and pipeline
Forte Biosciences is a clinical-stage biopharmaceutical company headquartered in Dallas, Texas, focused on autoimmune and autoimmune-related diseases. Its lead asset is FB102, a proprietary anti-CD122 monoclonal antibody administered intravenously. CD122 is a shared subunit of the receptors for interleukin-2 and interleukin-15, cytokines involved in the proliferation and activation of T cells and natural killer cells implicated in autoimmune pathology. FB102 is currently in a recruiting Phase I trial evaluating its safety and efficacy in patients with non-segmental vitiligo, a condition characterized by the autoimmune destruction of melanocytes. The press release states that proceeds will fund clinical development of its product candidate and other research activities, though no specific milestone timelines were disclosed in the available materials.
Forte's earlier pipeline centered on FB-401, a live biotherapeutic evaluated in a randomized, double-blind, placebo-controlled Phase II trial in mild-to-moderate atopic dermatitis, with results published in 2023. Following that program, the company redirected its clinical focus entirely to FB102 across autoimmune indications. The current USD 150 million raise follows a USD 53 million private placement completed in 2024, also directed at advancing FB102.
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