Reports Q3 research and development expenses were $1.4M, down from $5.7M a year ago. "The decreases in 2022 were primarily due to the wind down of our FB-401 program as the company began the shift in development activities to autoimmune indications with FB-102. While research and development expenses decreased in 2022 compared to 2021, we anticipate research and development expenses to increase in the future as we continue to develop our current lead product candidate, FB-102," the company said. "Forte is making excellent progress with its lead program FB-102, which is a direct result of the team’s hard work and diligent efforts. FB-102 holds significant potential in a variety of indications with market potential in excess of $6 billion." said Paul Wagner, Ph.D., Chairman and CEO of Forte Biosciences. "FB-102 is expected to be in the clinic late 2023 or early 2024. Beyond FB-102, the Forte team continues to explore additional opportunities for pipeline development to drive long-term value creation."
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