Argenx agrees to acquire Forte Biosciences in cash deal
Shares of Forte Biosciences (FBRX.O) soared 39.1% to $76.22 premarket.
Belgian-Dutch immunology firm Argenx (ARGX.BR) said it will acquire Forte in a cash deal valued at about $2.2 billion.
Forte shareholders will receive $77 per share, about a 40.6% premium to the last closing price of $54.78.
The acquisition adds FB102, a first-in-class anti-CD122 antibody, to Argenx's immunology pipeline.
FB102 has shown positive early-stage results in vitiligo and celiac disease and is also being developed for alopecia areata and other autoimmune diseases.
J.P. Morgan said the acquisition fit Argenx's core criteria of novel biology in immunological conditions with high unmet need.
Analysts see scope in FB102 to reach blockbuster status in both vitiligo and celiac disease.
The deal is expected to close in Q3 2026.
As of the last close, FBRX was up more than double year to date.
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