Forte Biosciences Q3 net loss narrows to $0.18/sh; cash $44M; appoints Scott Brun to board

Forte Biosciences, Inc.

2022-Q3 EPS reported -$0.56

Q3 2022 net loss $3.4M ($0.18/share) vs $7.8M ($0.54) in Q3 2021; R&D expenses fell to $1.4M.
Cash and equivalents $44.0M at Sept 30, 2022; 21.0M shares outstanding; no revenue.
Lead candidate FB-102 on track for clinic late 2023/early 2024; addressable market >$6B.
Appointed Scott Brun, M.D. to Board (effective Nov 10); ex-Head of AbbVie Ventures and Product Development.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Scott Brun

Director

FBRX · Forte Biosciences, Inc.

Effective: 2022-11-10
Filed: November 14, 2022, 6:59 PM ET

On November 10, 2022, the Board of Directors (the “Board) of the Company, upon recommendation of the Nominating and Governance Committee of the Board, appointed Scott Brun, M.D. to the Board, effective November 10, 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Forte Biosciences, Inc. reported the quarter ended September 30, 2022 results: EPS ($0.18).

Period: the quarter ended September 30, 2022
EPS: ($0.18)
Result: reported results

Exact text from the filing

Net losses per share were ($0.18) and ($0.54) for the three months ended September 30, 2022 and 2021, and ($0.56) and ($1.34) for the nine months ended September 30, 2022 and 2021, respectively.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott Brun was appointed as Director at Forte Biosciences, Inc..

Action: appointed
Role: Director

Exact text from the filing

On November 10, 2022, the Board of Directors (the “Board) of the Company, upon recommendation of the Nominating and Governance Committee of the Board, appointed Scott Brun, M.D. to the Board, effective November 10, 2022.

View on SEC.gov

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Forte Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-284535

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