Forte Biosciences Inc: Falls after FY20 net loss widens

Forte Biosciences

24/03/2021 15:39

** Shares of co developing biotherapeutics for skin diseases
 FBRX.O  fall 1.9% to $27.09
    ** Full-year net loss widens to $46.3 mln from a loss of 
$4.1 mln a year earlier 
    ** Research and development expenses rose 150% to $3 mln 
    ** General and administrative expenses nearly quadrupled to
$1.5 mln 
    ** Forte recognized a charge of $32.1 mln for acquired
in-process research and development related to the reverse
merger with Tocagen in Q2
    ** YTD, stock down 26%

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))