Clinical-stage biopharmaceutical company Forte Biosciences announced its first quarter 2026 financial results on Monday, reporting a GAAP loss per share of $1.24, an improvement from the loss per share of $1.37 reported in the same period last year. The company's net loss for the quarter was $22.14 million, compared to a net loss of $15.66 million in the prior-year period.

The company's lead candidate, FB102, recently received Fast Track designation from the U.S. FDA for the treatment of celiac disease. Forte CEO Paul Wagner stated that the clinical development of FB102 in celiac disease is progressing well, with key data readouts imminent. Topline results from the Phase II study are anticipated in 2026. Additionally, Phase Ib clinical studies for FB102 in nonsegmental vitiligo and alopecia areata are advancing, with topline data from the vitiligo study expected soon and data from the alopecia areata study anticipated in 2026.

Regarding research and development expenses, R&D spending for the quarter was $20.5 million, a significant increase from $12.7 million in the year-ago quarter. This rise was primarily driven by a $6.7 million increase in clinical trial costs related to FB102. As of the end of the first quarter, the company held cash and cash equivalents of $58.2 million. In April 2026, the company raised gross proceeds of $172.5 million through a public offering of 6.6 million shares of common stock. As of March 31, the company had approximately 13.9 million shares of common stock outstanding and 4.0 million pre-funded warrants.