Wire flash
argenx to acquire Forte Biosciences for $2.2B all-cash; FBRX surges 39% premarket
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
Forte Biosciences (NASDAQ:FBRX) shares jumped 39.2% in pre-market trading after argenx (NASDAQ:ARGX) announced a definitive agreement to acquire the clinical-stage biotechnology company in an all-cash transaction valued at approximately $2.2 billion. Under the terms, argenx will pay $77 per share in cash, representing a roughly 40% premium to Forte's previous closing price and an 86% premium to its volume-weighted average price since positive Phase 1b vitiligo trial results were released on July 9, 2026. The acquisition is centered on FB102, Forte's lead drug candidate and a first-in-class anti-CD122 antibody that has shown statistically significant Phase 1b results in both vitiligo and celiac disease. Argenx stated the deal will strengthen its immunology pipeline. The transaction has received unanimous approval from both companies' boards and is expected to close in the third quarter of 2026, financed entirely from argenx's existing cash. Barclays recently initiated coverage on Forte with an Overweight rating and a $74 price target.
Source report
Fiona Craig Mon, July 27, 2026 at 3:47 AM PDT | 2 min read
Forte Biosciences (NASDAQ: FBRX) shares climbed 39.2% in pre-market trading after argenx (NASDAQ: ARGX) announced a definitive agreement to acquire the clinical-stage biotechnology company in an all-cash transaction valued at approximately $2.2 billion.
Under the terms of the agreement, argenx will pay $77 per share in cash, representing a premium of around 40% to Forte's previous closing price.
FB102 Acquisition Drives Investor Optimism
The offer also reflects an approximately 86% premium to Forte's volume-weighted average share price since the company released positive Phase 1b vitiligo trial results on July 9, 2026.
The acquisition is centred on FB102, Forte's lead drug candidate and a first-in-class anti-CD122 antibody that has produced statistically significant Phase 1b results in both vitiligo and celiac disease. The therapy targets autoimmune conditions where no biologic treatments have yet been approved.
Argenx said the acquisition will strengthen its immunology pipeline by adding a promising clinical-stage asset with potential applications across multiple autoimmune diseases.
Previous Investment Paved the Way for the Deal
The transaction expands on argenx's earlier strategic investment in Forte and has received unanimous approval from the boards of directors of both companies.
The acquisition is expected to close during the third quarter of 2026 and will be financed entirely using argenx's existing cash resources.
Analyst Support and Market Strength Add Momentum
The announcement follows Barclays' recent initiation of coverage on Forte Biosciences with an Overweight rating and a $74 price target, highlighting growing confidence in the commercial prospects of FB102.
The broader equity market also provided a supportive backdrop, with:
- S&P 500 rising 0.9%
- Dow Jones Industrial Average gaining 0.8%
- Nasdaq advancing 1.4%
These gains reflect improving investor appetite for risk.
Interest in autoimmune-focused biotechnology companies has remained strong as larger pharmaceutical groups continue searching for innovative assets capable of expanding their long-term growth pipelines.
With a fully financed $77-per-share cash offer, encouraging clinical data for FB102, and favourable market conditions, Forte Biosciences shares traded just below the agreed acquisition price as investors priced in a strong likelihood that the transaction will be completed.
View Comments
Source
Yahoo FinanceWestern
Part of this Story
argenx Acquires Forte Biosciences for $2.2 Billion in Immunology Deal