Forte Biosciences soars after $150 mln equity raise

Forte Biosciences FBRX.O shares soaring 22.6% to $32.20 early Thurs after $150 mln overnight equity raise

FBRX shares rise as much as 27.5% to $33.49, an over two-month high

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

With move on the session, stock up ~18% 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