Forte Biosciences reports FY 2022 net loss of $13.9M; advancing FB-102 toward clinic in late 2023/early 2024
Forte Biosciences, Inc.
- Net loss of $13.9M ($0.80/sh) vs $21.7M ($1.55/sh) in FY 2021; cash and equivalents $41.1M at year-end.
- R&D expenses decreased to $5.6M from $13.9M due to termination of FB-401; G&A rose to $8.3M.
- Lead candidate FB-102 for autoimmune diseases expected to enter clinic in late 2023 or early 2024.
- Board appointed David Gryska (former CFO of Incyte and Celgene) in January 2023.