Forte Biosciences, Inc. filed its quarterly report on Form 10-Q with the SEC on August 12, 2026, covering the period ended June 30, 2026, disclosing a net loss of $45.5 million for the first half of the year and total assets of $205.7 million following a public equity offering.

Key Highlights

  • Net loss for the six months ended June 30, 2026: $45,467 thousand, compared to $26,905 thousand for the same period in 2025.
  • Total operating expenses for the first half of 2026: $47,042 thousand, up from $27,703 thousand in the first half of 2025.
  • Public equity offering: The company issued common stock in a public offering during Q2 2026, raising gross proceeds of $150,000 thousand, net of offering costs of $9,755 thousand for the primary offering and $1,350 thousand for the underwriter option exercise.
  • Cash and investments at June 30, 2026: Cash and cash equivalents of $49,629 thousand plus short-term investments of $148,831 thousand, versus cash of $76,957 thousand and no short-term investments at December 31, 2025.
  • Shares outstanding: 20,482,400 as of June 30, 2026, up from 12,948,308 at December 31, 2025; 21,229,087 shares as of August 7, 2026.
  • Accumulated deficit: $268,840 thousand as of June 30, 2026, compared to $223,373 thousand at December 31, 2025.
  • Research and development expenses for Q2 2026: $22,186 thousand, compared to $8,469 thousand in Q2 2025.

Forte Biosciences Q2 2026: Increased R&D Spending and Equity Capital Raise Drive Balance Sheet Changes

According to the filing, Forte Biosciences (NASDAQ:FBRX) reported a net loss of $23,331 thousand for the three months ended June 30, 2026, compared to $11,249 thousand for the same quarter in 2025. For the six-month period, the net loss totaled $45,467 thousand versus $26,905 thousand in the prior-year period. The company attributed the increase in total operating expenses primarily to higher research and development costs, which rose to $42,506 thousand for the first half of 2026 from $21,011 thousand in the first half of 2025. General and administrative expenses declined to $4,236 thousand from $6,392 thousand over the same comparison period, according to the filing.

The filing disclosed that during Q2 2026, the company completed a public offering of 5,709,936 shares of common stock, net of offering costs of $9,755 thousand, generating net proceeds of $140,245 thousand. The underwriter also exercised an option covering 856,490 additional shares, generating net proceeds of $21,150 thousand after offering costs of $1,350 thousand. Total proceeds from the issuance of common stock for the six-month period were reported as $150,000 thousand in the cash flow statement. As a result, total stockholders' equity increased to $183,794 thousand at June 30, 2026, from $60,991 thousand at December 31, 2025.

The company reported net cash used in operating activities of $41,510 thousand for the six months ended June 30, 2026, compared to $20,416 thousand for the same period in 2025. Net cash used in investing activities was $147,841 thousand, reflecting the purchase of available-for-sale securities. The registrant reported net loss per share, basic and diluted, of $(0.97) for Q2 2026 and $(2.18) for the first half of 2026, based on weighted average shares and pre-funded warrants outstanding of 23,787,713 and 20,828,996, respectively.

What Was Disclosed

Forte Biosciences filed its 10-Q for the quarter ended June 30, 2026, reporting a six-month net loss of $45,467 thousand, substantially increased R&D expenditures, a completed public equity offering, and total assets of $205,743 thousand as of the period end.