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Forte Biosciences (FBRX) investor relations material
Forte Biosciences Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Lead candidate FB102 advanced with positive Phase 1b celiac disease data; Phase 2 celiac and Phase 1b vitiligo trials underway, alopecia areata trial initiated, topline data expected in 2026.
$106.1 million in cash and cash equivalents as of June 30, 2025, expected to fund operations for at least 12 months.
Closed $75 million public offering in June 2025 and $53 million private placement in November 2024, strengthening liquidity.
No revenue generated; focus remains on clinical development of FB102 for autoimmune indications.
Financial highlights
Net loss of $11.2 million for Q2 2025, improved from $12.5 million in Q2 2024; net loss of $26.9 million for six months ended June 30, 2025, up from $19.9 million year-over-year.
Research and development expenses rose to $8.6 million in Q2 2025 from $5.7 million in Q2 2024, driven by clinical trial activity.
General and administrative expenses decreased to $3.0 million in Q2 2025 from $7.1 million in Q2 2024, mainly due to lower legal and professional fees.
Cash used in operating activities was $20.4 million for the six months ended June 30, 2025; net cash provided by financing activities was $68.0 million.
Outlook and guidance
Cash runway expected to last at least 12 months from filing date; additional capital will be needed to complete FB102 development.
Topline data from Phase 2 celiac and Phase 1b vitiligo trials anticipated in 2026; alopecia areata trial also underway.
Future capital requirements depend on clinical progress, regulatory outcomes, and potential strategic partnerships.
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