FBRX Stock On Track For Highest Levels In Over 4.5 Years As ArgenX Scoops Up Autoimmune Drug Maker

• ArgenX will pay $77 per share in cash to acquire Forte, a 41% premium to the stock’s closing price on Friday.
• Earlier this month, Forte stated that patients treated with its FB102 therapy in a Phase 1B test experienced a 29.6% improvement in facial skin pigmentation after 24 weeks.
• Argenx said the therapy has the potential to treat multiple autoimmune disorders and become a ‘pipeline-in-a-product’ opportunity.

Shares of Forte Biosciences (FBRX) surged nearly 40% in premarket trading Monday after Argenx (ARGX) agreed to acquire the clinical-stage biotech company in an all-cash deal valued at approximately $2.2 billion, giving the immunology specialist a promising autoimmune therapy that it believes could evolve into a "pipeline-in-a-product."

Under the agreement, Argenx will pay $77 per share in cash to acquire Forte, a 41% premium to the stock’s closing price on Friday. The transaction is expected to close in the third quarter of 2026.

FBRX stock is on track for its highest levels since November 2021.

Why ARGX Is Paying $2.2 Billion For FBRX

The acquisition adds Forte’s lead candidate, FB102, a clinical proof-of-concept in Vitiligo and Celiac disease. 

Earlier this month, Forte reported encouraging Phase 1B data for FB102 in vitiligo patients, showing substantial improvements in skin repigmentation after 24 weeks. Forte stated that patients treated with the drug in a Phase 1B test experienced a 29.6% improvement in facial skin pigmentation after 24 weeks, with visible benefits appearing from day 64.

Those with more severe vitiligo or depigmentation affecting over 25% of the face showed an even greater improvement of 43.2%. The treatment was also effective in 84% of the participants who received it.

These results boost investor confidence that the therapy has the potential to be expanded into multiple autoimmune indications. 

FB102 Has Potential To Treat Multiple Autoimmune Disorders

Argenx said the therapy has the potential to treat multiple autoimmune disorders, including alopecia areata, and could become a “pipeline-in-a-product” opportunity.

“By combining FB102’s promising clinical profile with Argenx’s proven development expertise, global reach and commercial capabilities, we have a unique opportunity to accelerate its development and maximise its impact for patients living with vitiligo, celiac disease, alopecia areata and other autoimmune conditions,” Forte CEO Paul A. Wagner said. 

Argenx also added that the acquisition broadens its immunology portfolio, complementing existing autoimmune and neuromuscular disease therapies including Efgartigimod, Empasiprubart, Adimanebart, ARGX-121.

Retail Says Vitiligo Therapy Results Still The Main Story

Meanwhile, retail sentiment surrounding FBRX on Stocktwits turned ‘bullish’ from ‘bearish’ a day earlier, while sentiment for ARGX remained ‘neutral.’

Despite the acquisition, one user stated that “the main FBRX story” is the Phase 1b vitiligo readout for FB102.

FBRX stock has surged 132% so far this year, while ARGX stock gained 9.3%.

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