Forte Biosciences(US:FBRX)2025-08-14 20:07Clinical Trials - Forte Biosciences expects three clinical trial readouts for FB102 in 2026, including phase 2 in celiac disease and phase 1b in vitiligo and alopecia areata[1][2]. - The company anticipates further increases in research and development expenses as it advances FB102 through ongoing clinical trials[7]. Financial Performance - The company reported research and development expenses of $8.6 million for Q2 2025, up from $5.7 million in Q2 2024, primarily due to a $3.8 million increase in clinical expenses[5]. - For the six months ended June 30, 2025, research and development expenses totaled $21.3 million, compared to $10.1 million for the same period in 2024, reflecting an increase of $11.7 million in manufacturing and clinical expenses[6]. - General and administrative expenses decreased to $3.0 million in Q2 2025 from $7.1 million in Q2 2024, mainly due to a $4.8 million reduction in professional and legal expenses[8]. - The company reported a net loss per share of $(0.96) for Q2 2025, compared to $(6.78) for Q2 2024[10]. - Forte's accumulated deficit increased to $(180.9) million as of June 30, 2025, compared to $(154.0) million at the end of 2024[13]. Cash and Funding - As of June 30, 2025, Forte had $106.1 million in cash and cash equivalents, an increase from $22.2 million at the end of 2024[11][13]. - The company closed a public offering on June 25, 2025, raising net proceeds of $69.9 million from the sale of 5,630,450 shares at $12.00 per share[3]. - An additional $1.7 million was raised from the exercise of the over-allotment option for 148,258 shares in July 2025[4].