Forte Biosciences: Stunning Bull Run Could Continue Thanks To Near-Term Data Readouts

Edmund InghamInvesting Group LeaderFollow5ShareSavePlay(13min)Comment(1)SummaryForte Biosciences has rebounded from near-liquidation, raising $150m this week and advancing FB102, its multi-indication anti-CD122 antibody, on multiple fronts.FB102 demonstrated statistically significant Phase 1b efficacy in Celiac disease, positioning FBRX as a potential frontrunner for first drug approval in this indication.Upcoming Phase 1b data in vitiligo and alopecia areata, both large and competitive markets, represent major catalysts for FBRX in 2024.FBRX's funding now extends into 2029, reducing near-term financial risk, but single-asset exposure remains a key risk factor.Looking for a helping hand in the market? Members of Haggerston BioHealth get exclusive ideas and guidance to navigate any climate. Learn More » Gingagi/iStock via Getty Images Investment Overview The stock of Dallas, Texas-based biotech Forte Biosciences (FBRX) is up by a remarkable 480% on a 12-month basis and up >120% on a six-month basis. Shares are also up >35% this week, apparently due to a This article was written byEdmund Ingham14.85K FollowersFollowEdmund Ingham is a biotech consultant. He has been covering biotech, healthcare, and pharma for over 5 years, and has put together detailed reports of over 1,000 companies. He leads the investing group Haggerston BioHealth. The group is for both novice and experienced biotech investors. It provides catalysts to look out for and buy and sell ratings. It also provides product sales and forecasts for all the Big Pharmas, forecasting, integrated financial statements, discounted cash flow analysis and market by market analysis. Learn more.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in FBRX over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.