Forte Biosciences to Be Acquired by argenx for $2.2 Billion
Forte Biosciences (NASDAQ:FBRX) announced a definitive agreement to be acquired by argenx (NASDAQ:ARGX) in an all-cash deal valued at approximately $2.2 billion, leading to a significant pre-market share price increase of nearly 39%. Under the terms, each Forte shareholder will receive $77 per share, representing a premium over recent trading prices and reflecting strong investor confidence following positive clinical results for its lead drug candidate, FB102. FB102 is a first-in-class anti-CD122 antibody with promising Phase 1b data in vitiligo and celiac disease. The acquisition aims to bolster argenx's immunology pipeline by adding a potential treatment across multiple autoimmune diseases where no biologics have yet been approved. The deal, which has received board approval from both companies, is expected to close during the third quarter of 2026 using argenx’s existing cash reserves. The transaction builds on prior strategic investments and follows positive analyst coverage for Forte.
Topics: acquisition biotechnology stock movement