FBRX

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Forte Biosciences, Inc.

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Key Metrics

Previous Close: $76.90
52-Week Range: $10.11 – $77.20
Market Cap: $1.63B
P/E (TTM): —
EPS (TTM): -4.57
Dividend Yield: —

Advanced Metrics

Price/Book: 32.64
PEG Ratio: —
Return on Equity: -62.28%
Return on Assets: -37.79%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 10.01
Debt/Equity: —
Total Debt: $0.00
Free Cash Flow: $-41.29M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $1.74B

FBRX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$0.00	$0.00
Research & Development	$5.59M	$21.86M	$21.19M	$58.25M
Selling, General & Admin	$8.30M	$10.62M	$15.41M	$12.41M
Operating Expenses	$13.90M	$32.49M	$36.60M	$70.66M
Operating Income	-$13.90M	-$32.49M	-$36.60M	-$70.66M
EBITDA	-$13.90M	-$32.48M	-$36.56M	-$70.59M
Pretax Income	-$13.88M	-$31.48M	-$35.48M	-$68.34M
Income Tax	—	—	—	$1.04M
Net Income	-$13.88M	-$31.48M	-$35.48M	-$69.38M
Diluted EPS	-20.00	-24.92	-12.17	-4.71
Diluted Shares	695341	1.26M	2.92M	14.72M

FBRX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$41.10M	$11.96M	$22.24M	$76.96M
Receivables	—	—	$128.00K	$817.00K
Current Assets	$41.51M	$38.33M	$61.35M	$80.59M
Total Assets	$42.00M	$38.98M	$61.56M	$82.78M
Current Liabilities	$3.18M	$3.67M	$9.08M	$20.75M
Total Liabilities	$3.18M	$3.67M	$9.08M	$21.79M
Retained Earnings	-$87.04M	-$118.52M	-$154.00M	-$223.37M
Shareholders' Equity	$38.82M	$35.31M	$52.48M	$60.99M
Working Capital	$38.33M	$34.66M	$52.27M	$59.84M

FBRX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$8.19M	-$28.71M	-$30.75M	-$50.88M
Capital Expenditure	—	-$88.00K	-$37.00K	-$116.00K
Free Cash Flow	-$8.19M	-$28.79M	-$30.78M	-$51.00M
Depreciation & Amortisation	$0.00	$9.00K	$39.00K	$64.00K
Stock-Based Compensation	$4.01M	$3.28M	$3.10M	$6.26M
Investing Cash Flow	$0.00	$47.00K	-$35.99M	$36.23M
Financing Cash Flow	$7.24M	$24.68M	$51.86M	$69.36M
Share Repurchases	—	$0.00	-$1.00K	$0.00
Net Change in Cash	-$944.00K	-$3.98M	-$14.88M	$54.71M

FBRX Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$12.69M	$8.62M	$15.20M	$21.74M	$20.47M
Selling, General & Admin	$3.43M	$2.96M	$3.18M	$2.83M	$1.97M
Operating Expenses	$16.12M	$11.58M	$18.38M	$24.57M	$22.44M
Operating Income	-$16.12M	-$11.58M	-$18.38M	-$24.57M	-$22.44M
EBITDA	-$16.11M	-$11.56M	-$18.37M	-$24.55M	-$22.42M
Pretax Income	-$15.66M	-$11.25M	-$17.68M	-$23.75M	-$21.76M
Income Tax	$0.00	—	—	—	$373.00K
Net Income	-$15.66M	-$11.25M	-$17.68M	-$24.79M	-$22.14M
Diluted EPS	-1.37	-0.96	-0.99	—	-1.24
Diluted Shares	11.40M	11.74M	17.79M	—	17.84M

FBRX Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$45.86M	$106.14M	$93.41M	$76.96M	$58.22M
Receivables	—	—	$527.00K	$817.00K	$655.00K
Current Assets	$47.16M	$107.62M	$95.41M	$80.59M	$65.11M
Total Assets	$47.46M	$107.78M	$97.09M	$82.78M	$67.22M
Current Liabilities	$9.03M	$9.17M	$12.99M	$20.75M	$23.65M
Total Liabilities	$9.03M	$9.17M	$12.99M	$21.79M	$25.12M
Retained Earnings	-$169.65M	-$180.90M	-$198.59M	-$223.37M	-$245.51M
Shareholders' Equity	$38.43M	$98.61M	$84.10M	$60.99M	$42.10M
Working Capital	$38.13M	$98.45M	$82.42M	$59.84M	$41.46M

FBRX Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$10.36M	-$10.06M	-$14.00M	-$16.47M	-$18.81M
Capital Expenditure	-$61.00K	—	-$55.00K	—	—
Free Cash Flow	-$10.42M	-$10.06M	-$14.05M	-$16.47M	-$18.81M
Depreciation & Amortisation	$13.00K	$15.00K	$17.00K	$19.00K	$19.00K
Stock-Based Compensation	$1.62M	$1.50M	$1.48M	$1.66M	$3.18M
Investing Cash Flow	$36.29M	$0.00	-$55.00K	$0.00	$0.00
Financing Cash Flow	-$2.32M	$70.35M	$1.32M	$9.00K	$74.00K
Share Repurchases	—	—	—	$0.00	—
Net Change in Cash	$23.61M	$60.29M	-$12.73M	-$16.46M	-$18.73M

Market Snapshot

About

Forte Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for dermatological diseases. The company's lead product candidate FB-401 is a live biotherapeutic being developed for the treatment of pediatric atopic dermatitis (eczema). Forte's approach involves topical application of certain bacterial strains intended to restore skin microbiome balance and modulate immune responses. The company is conducting clinical trials to evaluate the safety and efficacy of its investigational treatments in patients with inflammatory skin conditions.