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Forte Biosciences
Forte Biosciences (FBRX) investor relations material
Forte Biosciences Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
FB102 advanced with positive Phase 1b celiac disease data; Phase 2 celiac and Phase 1b vitiligo and alopecia areata trials ongoing, with topline data for all three expected in 2026.
US IND for FB102 is open, enabling expanded enrollment in the celiac disease Phase 2 trial at US sites.
$93.4 million in cash and cash equivalents as of September 30, 2025, following $75 million public offering and $53 million private placement.
No commercial revenue; focus remains on clinical development and expanding indications for FB102.
Financial highlights
Net loss of $17.7 million for Q3 2025, up from $8.4 million in Q3 2024; net loss of $44.6 million for the nine months ended September 30, 2025, compared to $28.3 million in the prior year period.
Research and development expenses rose to $15.2 million in Q3 2025 (from $5.9 million in Q3 2024), mainly due to increased clinical and manufacturing costs.
General and administrative expenses were $3.2 million in Q3 2025 (up from $2.8 million), driven by higher personnel costs.
Net loss per share was $(0.99) for Q3 2025 versus $(4.54) for Q3 2024; for the nine months ended September 30, 2025, net loss per share was $(3.26) compared to $(15.35) in 2024.
Ended Q3 2025 with $93.4 million in cash and cash equivalents.
Outlook and guidance
Topline results for FB102 in celiac disease, vitiligo, and alopecia areata expected in 2026.
Cash runway expected to fund operations for at least 12 months from the filing date.
Additional capital will be required to complete development and commercialization of FB102.
R&D expenses may increase as clinical programs expand and new indications are pursued.
General and administrative expenses may fluctuate with infrastructure and advisory needs.
How FB102 differentiates in celiac disease?
Cash runway given increasing R&D spend?
Prioritization of FB102's multiple indications?
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Next Forte Biosciences earnings date
Q4 202527 Mar, 2026
Forte Biosciences
Next Forte Biosciences earnings date
Q4 202527 Mar, 2026
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Frequently asked questions
Forte Biosciences Inc is a clinical-stage biopharmaceutical company focused on developing therapies for autoimmune diseases and inflammatory skin conditions. The company is engaged in the research and development of new treatments targeting unmet medical needs. Forte Biosciences operates within the healthcare and biotechnology sectors. The company is headquartered in Dallas, Texas, and its shares are listed on the NASDAQ.
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