Forte Biosciences Q1 net loss $2.6M; cash $40M to fund operations for 24 months

Forte Biosciences, Inc.

2023-Q1 EPS reported -$0.17

Net loss of $2.6M ($0.17 per share) vs $4.8M ($0.36) in Q1 2021; R&D spend down to $0.7M on wind-down of FB-401.
Cash and cash equivalents $40.0M; cash burn $2.0M in Q1; sufficient for at least 24 months.
Lead asset FB-102 for autoimmune diseases expected to enter clinic in H2 2023.
Appointed Stephen Doberstein, Ph.D. and Barbara Finck, M.D. to board of directors.
14.8M shares outstanding as of March 31, 2022.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Stephen K. Doberstein

Director

FBRX · Forte Biosciences, Inc.

Effective: 2022-05-12
Filed: May 16, 2022, 7:59 PM ET

Appointment of Director On May 12, 2022, the Board of Directors (the “Board) of Forte Biosciences, Inc. (the “Company”), upon recommendation of the Nominating and Governance Committee of the Board, appointed Stephen K. Doberstein, Ph.D. to the Board, effective May 12, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Stephen K. Doberstein was appointed as Director at Forte Biosciences, Inc..

Action: appointed
Role: Director

Exact text from the filing

Appointment of Director On May 12, 2022, the Board of Directors (the “Board) of Forte Biosciences, Inc. (the “Company”), upon recommendation of the Nominating and Governance Committee of the Board, appointed Stephen K. Doberstein, Ph.D. to the Board, effective May 12, 2022.

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Forte Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-151007

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