Forte Biosciences reports FY 2023 net loss of $31.5M; FB-102 advances to MAD cohort

Forte Biosciences, Inc.

Net loss of $31.5M ($1.00 per share) vs. $13.9M ($0.80) in FY 2022, driven by increased R&D spend.
R&D expenses rose to $21.9M from $5.6M, primarily due to FB-102 manufacturing and clinical costs.
Cash and equivalents of $37.1M at year-end 2023, down from $41.1M at end of 2022.
FB-102 Phase 1 SAD portion completed; multiple ascending dose (MAD) cohorts now dosing.
Shares outstanding of 36.3M as of Dec 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Forte Biosciences, Inc. reported the fourth quarter and fiscal year ended December 31, 2023 results: net income $ (31,476 ), EPS $ (1.00 ).

Period: the fourth quarter and fiscal year ended December 31, 2023
Net income: $ (31,476 )
EPS: $ (1.00 )
Result: reported results

Exact text from the filing

On March 18, 2024, Forte Biosciences, Inc. issued a press release reporting its financial results for the fourth quarter and fiscal year ended December 31, 2023.

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Forte Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-070158

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