A Business at a Glance
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Forte Biosciences, Inc. and its subsidiaries (www.fortebiorx.com) (“Forte”, “we”, “our”) is a clinical-stage biopharmaceutical company whose current lead product candidate is FB102. FB102 is a proprietary anti-CD122 monoclonal antibody therapeutic candidate with potentially broad autoimmune and autoimmune-related indications. Our FB102 program aims to address key pathways implicated in these indications with a CD122 antagonist. CD122 is a subunit of IL-2/IL-15 receptors which are key regulators of NK cells and certain T cell subsets. In FB102 mechanistic in-vitro studies, human donor T and NK cells were stimulated with either IL2 or IL15 in the presence or absence of FB102. FB102 significantly inhibited proliferation (4-5x inhibition in the proliferation of T cells and 6-8 fold inhibition in the proliferation of NK cells) and also inhibited activation of T cells. The level of FB102 inhibition of proliferation and activation was at levels comparable to unstimulated cells.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | - |
| Net Income | -52M | -35M | -31M | -14M | -64M | -49M |
| EPS | $-0.08 | $-12.17 | $-623.00 | $-20.00 | $-723.75 | $-915.00 |
| Free Cash Flow | -45M | -31M | -29M | -8.2M | -59M | -36M |
| ROIC | -43.5% | -80.8% | -89.1% | -34.5% | -120.1% | -61.6% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.17 | 0.10 | 0.08 | -7.42 | 0.57 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -53M | -37M | -32M | -14M | -62M | -46M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | -61.5% | -80.8% | -89.1% | -34.5% | -238.0% | -75.8% |
| Shares Outstanding | 13M | 7M | 0M | 1M | 0M | 0M |
| Metric | 2015 | 2016 | 2017 | 2018 | 2019 | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 19M | 27M | 29M | 51M | 45M | 5.6M | 22M | 21M | 41M |
| SG&A | 3.8M | 4.5M | 8.6M | 13M | 16M | 8.3M | 11M | 15M | 12M |
| EBIT | -23M | -32M | -38M | -46M | -62M | -14M | -32M | -37M | -53M |
| Op. Margin | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | -23M | -33M | -39M | -49M | -64M | -14M | -31M | -35M | -52M |
| Net Margin | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 15K | 20K | 0 | -7K | -287K | 61K | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | N/M | -89.6% | -40.9% | -61.6% | -120.1% | -34.5% | -89.1% | -80.8% | -43.5% |
| ROE | N/A | N/A | -54.8% | -75.8% | -238.0% | -34.5% | -89.1% | -80.8% | -61.5% |
| ROA | -2150.7% | -183.8% | -61.1% | -50.2% | -114.7% | -32.5% | -80.7% | -70.6% | -53.3% |
| Cash Flow | |||||||||
| Op. Cash Flow | -21M | -30M | -31M | -34M | -59M | -8.2M | -29M | -31M | -44M |
| Free Cash Flow | -21M | -30M | -32M | -36M | -59M | -8.2M | -29M | -31M | -45M |
| Owner Earnings | -22M | -33M | -38M | -45M | -69M | -12M | -32M | -34M | -50M |
| CapEx | 231K | 525K | 655K | 2.0M | 162K | 0 | 88K | 37K | 147K |
| Maint. CapEx | 232K | 2.4M | 2.7M | 3.3M | 1.6M | 36K | 9K | 39K | 55K |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | N/A | 79K | 0 | 92K |
| D&A | 232K | 2.4M | 2.7M | 3.3M | 1.6M | 36K | 9K | 39K | 55K |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.1M | 1.3M | 4.5M | 6.9M | 8.1M | 4.0M | 3.3M | 3.1M | 5.3M |
| Debt Repayment | 0 | 0 | 0 | 8.6M | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||
| Net Debt | N/A | -14M | -78M | -104M | 6.6M | N/A | N/A | N/A | -187M |
| Cash & Equiv. | 8.1M | 5.5M | 36M | 41M | 6.9M | 41M | 37M | 22M | 187M |
| Long-Term Debt | N/A | 10M | 3.6M | 26M | 26M | N/A | N/A | N/A | N/A |
| Debt/Equity | -1.01 | -0.14 | 0.15 | 0.57 | -7.42 | 0.08 | 0.10 | 0.17 | 0.00 |
| Interest Coverage | -67.7 | -15.4 | -19.5 | -15.6 | -16.1 | -85.8 | -28.9 | -27.9 | -27.9 |
| Equity | -92M | -124M | 71M | 58M | -4.8M | 39M | 35M | 52M | 84M |
| Total Assets | 1.1M | 35M | 92M | 103M | 7.7M | 42M | 39M | 62M | 97M |
| Total Liabilities | 93M | 28M | 21M | 45M | 12M | 3.2M | 3.7M | 9.1M | 7.5M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | -128M | -167M | -216M | -279M | -87M | -119M | -154M | -199M |
| Working Capital | N/A | 18M | 73M | 81M | 9.8M | 38M | 35M | 52M | 82M |
| Current Assets | N/A | 32M | 91M | 98M | 23M | 42M | 38M | 61M | 95M |
| Current Liabilities | N/A | 14M | 17M | 17M | 13M | 3.2M | 3.7M | 9.1M | 13M |
| Per Share Data | |||||||||
| EPS | -264.25 | -5,707.50 | -997.50 | -915.00 | -723.75 | -20.00 | -623.00 | -12.17 | -0.08 |
| Owner EPS | -256.00 | -5,673.06 | -981.13 | -834.91 | -12,254.80 | -17.63 | -121.55 | -5.15 | -3.97 |
| Book Value | -1,058.21 | -21,211.24 | 1,821.37 | 1,086.77 | -848.27 | 55.94 | 134.14 | 7.97 | 6.71 |
| Cash Flow/Share | -241.17 | -5,035.96 | -797.74 | -644.25 | -10,536.74 | -11.79 | -109.04 | -4.67 | -4.13 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 0.1M | 0.0M | 0.0M | 0.1M | 0.0M | 0.7M | 0.3M | 6.6M | 12.5M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -405.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 2.2 | 2.7 | 1.1 | 0.5 | 3.6 | 1.3 | 4.8 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | N/A | -20.0% | -22.8% | -492.3% | -46.7% | -22.7% | -46.1% | -11.0% |
| Market Cap | 0 | 0 | 159M | 160M | 12M | 18M | 127M | 67M | 406M |
| Avg. Price | 0.00 | 0.00 | 4,653.50 | 4,098.73 | 2,142.11 | 32.11 | 21.83 | 13.86 | 32.42 |
| Year-End Price | 0.00 | 0.00 | 4,072.50 | 2,981.25 | 191.63 | 25.25 | 19.27 | 22.92 | 32.42 |
Forte Biosciences, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
Forte Biosciences, Inc. (FBRX) has a 5-year average return on invested capital (ROIC) of -77.2%. This is below average and may indicate limited pricing power.
Forte Biosciences, Inc. (FBRX) has a market capitalization of $406M. It is classified as a small-cap stock.
Forte Biosciences, Inc. (FBRX) does not currently pay a regular dividend.
Forte Biosciences, Inc. (FBRX) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Forte Biosciences, Inc. (FBRX) generated $-31 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Forte Biosciences, Inc. (FBRX) has a debt-to-equity ratio of 0.17. This indicates a conservatively financed balance sheet.
Forte Biosciences, Inc. (FBRX) reported earnings per share (EPS) of $-12.17 in its most recent fiscal year.
Forte Biosciences, Inc. (FBRX) has a return on equity (ROE) of -80.8%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 8 years of financial data for Forte Biosciences, Inc. (FBRX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Forte Biosciences, Inc. (FBRX) has a book value per share of $7.97, based on its most recent annual SEC filing.
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