Forte Biosciences jumps on $2.2 bln Argenx takeover bid
BUZZ-Forte Biosciences jumps on $2.2 bln Argenx takeover bid ** Shares of Forte Biosciences FBRX.O soar 39.1% to $76.22 premarket
** Belgian-Dutch immunology firm Argenx ARGX.BR says it will acquire Forte in a cash deal valued at about $2.2 bln
** Forte shareholders will receive $77/share, about 40.6% premium to the last closing price of $54.78
** The acquisition adds FB102, a first-in-class anti-CD122 antibody, to Argenx's immunology pipeline
** FB102 has shown positive early-stage results in vitiligo and celiac disease and also being developed for alopecia areata and other autoimmune diseases
** J.P.Morgan says acquisition fit Argenx's core criteria of novel biology in immunological conditions with high unmet need
** Analysts see scope in FB102 to reach blockbuster status in both Vitiligo and Celiac Disease
** Deal expected to close in Q3 2026
** As of last close, FBRX up more than double YTD
(Reporting by Kamal Choudhury in Bengaluru)