Forte Biosciences sets Annual Meeting for May 29

Forte Biosciences, Inc. (FBRX), a pharmaceutical company based in Dallas, Texas, with a market capitalization of $48.31 million and current trading price of $7.34, announced today that its Board of Directors has scheduled the company’s annual meeting of stockholders for May 29, 2025. The company has shown strong momentum recently, with a 39.81% return over the past week and a 55.18% gain over the last six months. The specific time and location of the Annual Meeting will be detailed in the company’s forthcoming proxy materials, which will be filed with the Securities and Exchange Commission (SEC). According to InvestingPro data, Forte maintains a healthy financial position with more cash than debt and a robust current ratio of 6.76, indicating strong liquidity to meet its short-term obligations. Unlock 10+ additional exclusive insights about FBRX’s financial health with an InvestingPro subscription.

The company, which trades under the NASDAQ ticker FBRX, also informed stockholders of updated deadlines for the submission of proposals for the Annual Meeting. Stockholders wishing to include proposals in the company’s proxy statement under Rule 14a-8 must submit their proposals by April 28, 2025. This deadline is established as a reasonable timeframe prior to the commencement of printing and distribution of proxy materials.

Additionally, stockholders intending to present director nominations or other proposals at the Annual Meeting without including them in the proxy materials must deliver such nominations or proposals to the company by the same April 28, 2025 deadline. This deadline follows the 10-day period after the public announcement of the Annual Meeting date, which is standard for such submissions.

In compliance with universal proxy rules, stockholders who plan to solicit proxies in support of director nominees other than those nominated by the company’s board must notify the company with the required information as per Rule 14a-19 under the Exchange Act, again by April 28, 2025.

This announcement comes as Forte Biosciences, formerly known as Tocagen Inc (NASDAQ:FBRX)., continues to engage in the development of pharmaceutical preparations, as classified under Standard Industrial Classification code 2834.

The information provided here is based on a press release statement filed with the SEC.

In other recent news, Forte Biosciences, Inc. announced that its stockholders have approved an amended and restated 2021 Equity Incentive Plan. This plan is designed to attract, retain, and motivate personnel by offering various forms of stock-based compensation. The revised plan includes an allocation of 3,340,000 shares of common stock, plus additional shares from previous plans, with a cap of 44,093 shares. Meanwhile, TD Cowen has initiated coverage of Forte Biosciences with a Buy rating, highlighting the potential of the company’s lead candidate, FB102. This monoclonal antibody targets CD122 and shows promise in reducing pathogenic T and natural killer cells while preserving regulatory T cells. Recent studies have indicated a clean safety profile for FB102, setting the stage for further clinical data. TD Cowen’s analysts are optimistic about FB102’s potential in treating celiac disease and its broader applications for autoimmune diseases. These developments could be of interest to investors following Forte Biosciences.

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