Forte Biosciences, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $57.6M | $20.7M | $21.9M | $5.6M | $13.9M |
| Operating expenses | $70.7M | $36.6M | $32.5M | $13.9M | $21.5M |
| Operating income | -$70.7M | -$36.6M | -$32.5M | -$13.9M | -$21.5M |
| Pretax income | -$68.3M | -$35.5M | -$31.5M | — | — |
| Income tax expense | $1.0M | $0 | $0 | $0 | $0 |
| Net income | -$69.4M | -$35.5M | -$31.5M | -$13.9M | -$21.7M |
| Balance Sheet | |||||
| Cash and equivalents | $77.0M | $22.2M | $37.1M | $41.1M | $42.0M |
| Current assets | $80.6M | $61.3M | $38.3M | $41.5M | $42.5M |
| Total assets | $82.8M | $61.6M | $39.0M | $42.0M | $43.3M |
| Current liabilities | $20.8M | $9.1M | $3.7M | $3.2M | $1.8M |
| Total liabilities | $21.8M | $9.1M | — | — | — |
| Stockholders' equity | $61.0M | $52.5M | $35.3M | $38.8M | $41.5M |
| Cash Flow Statement | |||||
| Cash from operations | -$50.9M | -$30.7M | -$28.7M | -$8.2M | -$16.7M |
| Depreciation and amortization | $64,000 | $39,000 | $9,000 | — | $36,000 |
| Stock-based compensation | $6.3M | $3.1M | $3.3M | $4.0M | $4.2M |
| Capital expenditure | $116,000 | $37,000 | $88,000 | — | — |
| Free cash flow | -$51.0M | -$30.8M | -$28.8M | — | — |
| Impairments | — | — | — | — | $61,000 |
Shares outstanding 13.9M · Free float 39.5%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.