Forte Biosciences(FBRX) - 2024 Q3 - Quarterly Results

Financial Performance - Forte Biosciences reported research and development expenses of $5.9 million for Q3 2024, a decrease of 7.8$6.4 million in Q3 2023[4] - For the nine months ended September 30, 2024, research and development expenses totaled $16.0 million, down 12.5$18.3 million in the same period of 2023[5] - General and administrative expenses for Q3 2024 were $2.8 million, a decrease of 26.3$3.8 million in Q3 2023[6] - The company reported a net loss per share of $(4.54) for Q3 2024, compared to$(6.57) for Q3 2023, reflecting an improvement of 30.5%[7] Cash and Liabilities - As of September 30, 2024, Forte had $16.4 million in cash and cash equivalents, down from$37.1 million at the end of 2023[8] - Total current liabilities increased to $8.58 million as of September 30, 2024, compared to$3.67 million at the end of 2023[9] - Forte's accumulated deficit increased to $146.8 million as of September 30, 2024, compared to$118.5 million at the end of 2023[9] Clinical Development - Forte has initiated a clinical trial for FB102 in celiac disease, with topline data expected in Q2 2025[1] - The company has advanced FB102 into clinical trials, demonstrating a good safety profile in phase 1 studies[4] Stock Information - The company completed a 1:25 reverse stock split in August 2024, resulting in 1.46 million shares of common stock outstanding[8]