$FBRX
Forte Biosciences, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024058669 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.078M $3.451M $2.068M
YoY Change 273.51% 66.88% 13.56%
% of Gross Profit
Research & Development $5.590M $4.353M $4.787M
YoY Change -21.7% -9.07% 590.76%
% of Gross Profit
Depreciation & Amortization $10.00K $9.000K
YoY Change
% of Gross Profit
Operating Expenses $12.82M $7.804M $6.855M
YoY Change 41.89% 13.84% 172.67%
Operating Profit -$12.82M -$7.804M -$6.855M
YoY Change 41.89% 13.84% 172.67%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $307.0K $384.0K $102.0K
YoY Change 122.46% 276.47% -292.45%
Pretax Income -$12.51M -$7.420M -$6.753M
YoY Change 40.64% 9.88% 163.07%
Income Tax
% Of Pretax Income
Net Earnings -$12.51M -$7.420M -$6.753M
YoY Change 40.64% 9.88% 163.07%
Net Earnings / Revenue
Basic Earnings Per Share -$0.27 -$0.16 -$0.32
Diluted Earnings Per Share -$0.27 -$0.16 -$0.32
COMMON SHARES
Basic Shares Outstanding 36.44M 36.39M 21.01M
Diluted Shares Outstanding 21.01M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.50M $30.44M $35.90M
YoY Change -19.38% -15.2% -10.32%
Cash & Equivalents $24.50M $30.40M $35.90M
Short-Term Investments
Other Short-Term Assets $1.213M $1.058M $369.0K
YoY Change 276.71% 186.72% -1.86%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $25.71M $31.50M $36.27M
YoY Change -16.38% -13.15% -10.24%
LONG-TERM ASSETS
Property, Plant & Equipment $96.00K $106.0K
YoY Change 220.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $271.0K $409.0K $437.0K
YoY Change -33.42% -6.41% -51.06%
Total Long-Term Assets $367.0K $515.0K $437.0K
YoY Change -16.02% 17.85% -51.06%
TOTAL ASSETS
Total Short-Term Assets $25.71M $31.50M $36.27M
Total Long-Term Assets $367.0K $515.0K $437.0K
Total Assets $26.08M $32.02M $36.71M
YoY Change -16.37% -12.78% -11.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.275M $1.685M $1.342M
YoY Change 75.48% 25.56% 132.99%
Accrued Expenses $3.842M $1.647M $2.418M
YoY Change 16.64% -31.89% 255.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.117M $3.332M $3.760M
YoY Change 44.71% -11.38% 199.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.117M $3.332M $3.760M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $9.117M $3.332M $3.760M
YoY Change 44.71% -11.38% 199.36%
SHAREHOLDERS EQUITY
Retained Earnings -$138.5M -$125.9M -$93.80M
YoY Change 34.86% 34.22% 23.91%
Common Stock $155.4M $154.6M $126.7M
YoY Change 21.82% 22.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.96M $28.69M $32.95M
YoY Change
Total Liabilities & Shareholders Equity $26.08M $32.02M $36.71M
YoY Change -16.37% -12.78% -11.13%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$12.51M -$7.420M -$6.753M
YoY Change 40.64% 9.88% 163.07%
Depreciation, Depletion And Amortization $10.00K $9.000K
YoY Change
Cash From Operating Activities -$5.936M -$6.700M -$5.200M
YoY Change 8.42% 28.85% 160.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $6.000K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 -$6.000K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K -8.000K 6.000K
YoY Change -58.33% -233.33% -117.65%
NET CHANGE
Cash From Operating Activities -5.936M -6.700M -5.200M
Cash From Investing Activities 0.000 -6.000K
Cash From Financing Activities -10.00K -8.000K 6.000K
Net Change In Cash -5.946M -6.681M -5.198M
YoY Change -61.55% 28.53% 158.74%
FREE CASH FLOW
Cash From Operating Activities -$5.936M -$6.700M -$5.200M
Capital Expenditures $0.00 $6.000K
Free Cash Flow -$5.936M -$6.706M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001419041
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
http://fasb.org/us-gaap/2023#AccountingStandardsUpdate202006Member
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-38052
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
FORTE BIOSCIENCES, INC.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
26-1243872
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
3060 Pegasus Park Drive, Building 6
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Dallas
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
75247
CY2024Q1 dei City Area Code
CityAreaCode
310
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
618-6994
CY2024Q1 dei Security12b Title
Security12bTitle
Common Stock
CY2024Q1 dei Trading Symbol
TradingSymbol
FBRX
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
36442380
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30444000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37125000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1058000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1202000
CY2024Q1 us-gaap Assets Current
AssetsCurrent
31502000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
38327000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
106000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
409000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
544000
CY2024Q1 us-gaap Assets
Assets
32017000
CY2023Q4 us-gaap Assets
Assets
38980000
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1685000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1424000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1647000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2242000
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
3332000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3666000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
36394882
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
36394882
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
36335105
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
36335105
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
36000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
36000
CY2024Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
154591000
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
153794000
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
4000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-125940000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-118520000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
28685000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
35314000
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
32017000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
38980000
CY2024Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
4353000
CY2023Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
4787000
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3451000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2068000
CY2024Q1 us-gaap Operating Expenses
OperatingExpenses
7804000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
6855000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7804000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6855000
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
384000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
102000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-7420000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-6753000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
CY2024Q1 fbrx Weighted Average Number Of Shares And Pre Funded Warrants Outstanding Basic
WeightedAverageNumberOfSharesAndPreFundedWarrantsOutstandingBasic
46082861
CY2024Q1 fbrx Weighted Average Number Of Shares And Pre Funded Warrants Outstanding Diluted
WeightedAverageNumberOfSharesAndPreFundedWarrantsOutstandingDiluted
46082861
CY2023Q1 fbrx Weighted Average Number Of Shares And Pre Funded Warrants Outstanding Basic
WeightedAverageNumberOfSharesAndPreFundedWarrantsOutstandingBasic
21006680
CY2023Q1 fbrx Weighted Average Number Of Shares And Pre Funded Warrants Outstanding Diluted
WeightedAverageNumberOfSharesAndPreFundedWarrantsOutstandingDiluted
21006680
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-7420000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-6753000
CY2024Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-6000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7426000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6753000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
35314000
CY2024Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-16000
CY2024Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
8000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
805000
CY2024Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-6000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-7420000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
28685000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
38818000
CY2023Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
6000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
877000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-6753000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
32948000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-7420000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-6753000
CY2024Q1 us-gaap Depreciation
Depreciation
9000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
805000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
877000
CY2024Q1 fbrx Accretion Of Debt Discount On Available For Sale Securities
AccretionOfDebtDiscountOnAvailableForSaleSecurities
6000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-279000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-91000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
261000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
189000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-595000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
392000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6667000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5204000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6000
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6000
CY2024Q1 fbrx Taxes Paid Related To Net Share Settlement Of Equity Awards
TaxesPaidRelatedToNetShareSettlementOfEquityAwards
16000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6681000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5198000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37125000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41100000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30444000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35902000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-125900000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6700000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30400000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes. Significant management estimates that affect the reported amounts of assets, liabilities and expenses include stock-based compensation expense and accruals for clinical trials and drug manufacturing</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span>
CY2024Q1 fbrx Transfers Between Fair Value Hierarchy Levels
TransfersBetweenFairValueHierarchyLevels
0
CY2024Q1 fbrx Number Of Prefunded Or Common Stock Warrants Exercised
NumberOfPrefundedOrCommonStockWarrantsExercised
0
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5930685
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3679830
CY2024Q1 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted
true
CY2024Q1 us-gaap Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
2024-01-01
CY2024Q1 us-gaap Change In Accounting Principle Accounting Standards Update Immaterial Effect
ChangeInAccountingPrincipleAccountingStandardsUpdateImmaterialEffect
true
CY2024Q1 fbrx Prepaid Manufacturing And Research Expenses
PrepaidManufacturingAndResearchExpenses
182000
CY2023Q4 fbrx Prepaid Manufacturing And Research Expenses
PrepaidManufacturingAndResearchExpenses
306000
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
280000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
318000
CY2024Q1 fbrx Prepaid Professional Fee
PrepaidProfessionalFee
363000
CY2023Q4 fbrx Prepaid Professional Fee
PrepaidProfessionalFee
413000
CY2024Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
233000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
165000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1058000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1202000
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
124000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
118000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
106000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109000
CY2024Q1 fbrx Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
232000
CY2023Q4 fbrx Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
280000
CY2024Q1 fbrx Prepaid Professional Fees Noncurrent
PrepaidProfessionalFeesNoncurrent
121000
CY2023Q4 fbrx Prepaid Professional Fees Noncurrent
PrepaidProfessionalFeesNoncurrent
211000
CY2024Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
56000
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
53000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
409000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
544000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
10000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
276000
CY2024Q1 fbrx Accrued Compensation
AccruedCompensation
834000
CY2023Q4 fbrx Accrued Compensation
AccruedCompensation
947000
CY2024Q1 fbrx Accrued Manufacturing And Research Expenses
AccruedManufacturingAndResearchExpenses
803000
CY2023Q4 fbrx Accrued Manufacturing And Research Expenses
AccruedManufacturingAndResearchExpenses
1016000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1647000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2242000
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
19811000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
19809000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
25160000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
25164000
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
70000
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
7000
CY2024Q1 us-gaap Contractual Obligation
ContractualObligation
357000
CY2023Q3 us-gaap Loss Contingency Lawsuit Filing Date
LossContingencyLawsuitFilingDate
August 10, 2023
CY2023Q3 us-gaap Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
Camac Fund LP
CY2023Q3 us-gaap Loss Contingency Name Of Defendant
LossContingencyNameOfDefendant
members of the Company’s Board of Directors (the “Directors”) and entities affiliated with certain of the Company’s investors (the “Investors”) and naming the Company as nominal defendant.
CY2023Q3 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
25000000
CY2023Q4 us-gaap Loss Contingency Lawsuit Filing Date
LossContingencyLawsuitFilingDate
October 28, 2023
CY2023Q4 us-gaap Loss Contingency Name Of Plaintiff
LossContingencyNameOfPlaintiff
Forte Biosciences
CY2023Q4 us-gaap Loss Contingency Name Of Defendant
LossContingencyNameOfDefendant
Camac Fund, LP
CY2024Q1 fbrx Number Of Prefunded Warrants Exercised
NumberOfPrefundedWarrantsExercised
0
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17896922
CY2022Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2022-07-21
CY2024Q1 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2024-07-12
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.63
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.82
CY2024Q1 fbrx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Of Common Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOfCommonStock
0.74
CY2023Q1 fbrx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Of Common Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOfCommonStock
1.02
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0414
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0370
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y29D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M7D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.102
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0142
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2645278
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.26
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M1D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
30000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2540000
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.74
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
157708
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.74
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5027570
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.63
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M26D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
28000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5027570
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.63
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y2M26D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
28000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1458093
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.58
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M13D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3000
CY2024Q1 fbrx Share Based Compensation Arrangement By Share Based Payment Award Options Fair Value Of Stock Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsFairValueOfStockPrice
0.7
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
805000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
877000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4700000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M3D

Files In Submission

Name View Source Status
0000950170-24-058669-index-headers.html Edgar Link pending
0000950170-24-058669-index.html Edgar Link pending
0000950170-24-058669.txt Edgar Link pending
0000950170-24-058669-xbrl.zip Edgar Link pending
fbrx-20240331.htm Edgar Link pending
fbrx-20240331.xsd Edgar Link pending
fbrx-ex10_1.htm Edgar Link pending
fbrx-ex31_1.htm Edgar Link pending
fbrx-ex31_2.htm Edgar Link pending
fbrx-ex32_1.htm Edgar Link pending
fbrx-ex32_2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R42.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
fbrx-20240331_htm.xml Edgar Link completed