Forte Biosciences reported increased operating expenses in Q3 2025, primarily driven by advancements in its FB102 clinical trials for autoimmune diseases. The company ended the quarter with a strong cash position, supporting its ongoing development efforts and upcoming clinical trial readouts.
US IND is open and enrollment expanded to US sites for the FB102 phase 2 celiac disease clinical trial.
positiveThree key clinical trial readouts for FB102 are expected in 2026, including Phase 2 in celiac disease and Phase 1b in vitiligo and alopecia areata.
positiveEnded the third quarter of 2025 with $93.4 million in cash and cash equivalents.
positiveResearch and development expenses increased significantly to $15.2 million in Q3 2025 from $5.9 million in Q3 2024, driven by clinical and manufacturing expenses.
attentionNet loss per share widened to $(0.99) in Q3 2025 from $(4.54) in Q3 2024.
negativeGeneral and administrative expenses increased in Q3 2025 compared to Q3 2024, primarily due to personnel-related expenses.
attentionMargin metrics will be available once backend extracts data from insights_json
The US IND is now open and enrolment in the FB102 phase 2 celiac disease (CeD) clinical trial has expanded to US sites with topline results expected in 2026.
Based on the strength of the positive results from the FB102 phase 1b CeD trial, which we reported in June, we look forward to the phase 2 data further validating FB102 for the treatment of celiac disease.
The FB102 phase 1b vitiligo clinical study is ongoing and we continue to expect topline data in 1H26.
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