Forte Biosciences(US:FBRX)2025-11-14 14:05Financial Performance - Forte Biosciences reported research and development expenses of $15.2 million for Q3 2025, up from $5.9 million in Q3 2024, primarily due to increased clinical and manufacturing costs[3]. - For the nine months ended September 30, 2025, research and development expenses totaled $36.5 million, compared to $16.0 million for the same period in 2024, reflecting a $21.6 million increase in manufacturing and clinical expenses[4]. - General and administrative expenses for Q3 2025 were $3.2 million, an increase from $2.8 million in Q3 2024, mainly due to personnel-related costs[6]. - Net loss per share for Q3 2025 was $(0.99), compared to $(4.54) for Q3 2024, indicating a reduction in losses year-over-year[8]. - Forte's total operating expenses for the nine months ended September 30, 2025, were $46.1 million, compared to $29.3 million for the same period in 2024[12]. Cash and Assets - The company ended Q3 2025 with $93.4 million in cash and cash equivalents, a significant increase from $22.2 million at the end of 2024[9]. - Total assets as of September 30, 2025, were $97.1 million, up from $61.6 million at the end of 2024, driven by increased cash reserves[11]. - The accumulated deficit increased to $(198.6) million as of September 30, 2025, compared to $(154.0) million at the end of 2024[11]. Clinical Trials and Research - Forte anticipates topline results from three key clinical trials for FB102 in 2026, including phase 2 in celiac disease and phase 1b in vitiligo and alopecia areata[2]. - The company has expanded enrollment for the FB102 phase 2 celiac disease trial to US sites, with results expected in 2026[2].