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      Forte Biosciences Inc. (FBRX) Stock Rising in Premarket, Here’s Why - Stocks Telegraph

      By Hassan Masood

      Published on

      September 22, 2021

      9:20 AM UTC

      Forte Biosciences Inc. (FBRX) Stock Rising in Premarket, Here’s Why - Stocks Telegraph

      Forte Biosciences Inc. (FBRX), a clinical-stage biopharmaceutical company, has seen an increase of 5.64% in premarket trading session. As a result, FBRX stock is trading at $3.56 at the time of this writing. There is no specific reason for this rise in FBRX stock. On Tuesday, FBRX stock closed the day at $3.37 after gaining increase of 0.30% in regular trading session. Let’s have a discussion about some recent developments related to FBRX stock.

      FBRX clinical trial failed

      On 2nd September, FBRX announced that the topline data from its phase 2 clinical trial of FB-401 failed to meet the statistical significance. The clinical trial of FB-401 was meant for the atopic dermatitis treatment. The trial failed to meet the statistical significance for primary endpoint of EASI-50. EASI-50 is the proportion of patients with at least a 50% improvement in atopic dermatitis disease severity as measure by EASI. In the key secondary endpoints, positive trends were observed. They included EASI-90. 27.6% of the subjects in active arm achieved the EASI-90 endpoint. In comparison to that, 20.5% in control arm achieved EASI-90. In IGA success, 38.2% of active subjects achieved the success, as compared to 29.5% in placebo arm. Paul Wagner, Ph.D., CEO of Forte Biosciences said on the development that the topline data is disappointing. He said that the company would continue to analyze the data in future and would try to make improvements.

      Q2 2021 financial results

      On 16th of August, FBRX reported the unaudited quarterly results for second quarter of fiscal year 2021, ended 30th June 2021. According to the details, on 30th June, the company had cash and cash equivalents of $50.79 million. The total assets on 30th of June were $52.88 million. The company’s totalliabilities on 30th of June were $2.97 million. The total operating expenses bore by the company during the quarter stood at $5.74 million. During equivalent period of previous year, the total operating expenses were $34.75 million. The net loss bore by the company during the quarter stood at $5.81 million. During equivalent period of 2020, the net loss bore by the company was $34.76 million. The net loss per basic and diluted share during the quarter was $0.43. During equivalent period of previous year, the net loss per basic and diluted share stood at a mammoth $9.52. All in all, the quarter was a marked improvement as compared to second quarter of 2020.

      What’s next for FBRX?

      Recent past performances of FBRX stock have not been up to the mark. The stock has declined by 12% during last one week and 87% during last one month. The reason for such massive decline is the ongoing investigations by several law-firms against FBRX. But analysts believe that in near future, FBRX would be out of trouble soon. Consequently potential investors should keep a close eye on FBERX stock’s performance in future.

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