Forte Biosciences gains premarket after $150 mln equity raise

ReutersApr 9, 2026 12:12 PM

Forte Biosciences FBRX.O shares up 3.3% premarket to $27.13 after $150 mln overnight equity raise

Autoimmune diseases-focused biopharma co late Weds announced ~5.7 mln shares at $26.27, matching their last close

FBRX intends to use net proceeds for working capital and other purposes, including funding clinical development of its product candidates and other research activities

Guggenheim and Barclays joint bookrunners

Dallas, Texas-based FBRX has ~13.9 mln shares outstanding for ~$365 mln market cap prior to offering

Through Weds, stock down ~4% YTD. It closed at $5.70 a year ago

Of 6 analysts covering the stock, 1 rates "strong buy", 5 rate "buy"; median PT $59.50, according to LSEG data

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