Why is argenx (NASDAQ:ARGX) acquiring Forte Biosciences (NASDAQ:FBRX)?

argenx (NASDAQ:ARGX) is acquiring Forte Biosciences (NASDAQ:FBRX) to add FB102 to its immunology pipeline. argenx said the drug candidate has clinical evidence in vitiligo and celiac disease and potential applications across additional autoimmune conditions.

What are the argenx (NASDAQ:ARGX) and Forte Biosciences (NASDAQ:FBRX) deal terms?

argenx (NASDAQ:ARGX) will pay Forte Biosciences (NASDAQ:FBRX) shareholders $77 per share in cash. The transaction values Forte’s equity at approximately $2.2 billion and represents an 86% premium to its volume-weighted average price since July 9, 2026.

How will argenx (NASDAQ:ARGX) acquire Forte Biosciences (NASDAQ:FBRX)?

argenx (NASDAQ:ARGX) will launch a tender offer for all Forte Biosciences (NASDAQ:FBRX) shares before completing a back-end merger. Untendered shares will receive the same $77 cash consideration.

What does FB102 add to argenx (NASDAQ:ARGX)?

FB102 gives argenx (NASDAQ:ARGX) an experimental anti-CD122 antibody targeting harmful T-cell and natural-killer-cell activity. Forte Biosciences (NASDAQ:FBRX) has reported Phase 1b data in vitiligo and celiac disease.

What happens to Forte Biosciences (NASDAQ:FBRX) shareholders after the argenx (NASDAQ:ARGX) deal?

Forte Biosciences (NASDAQ:FBRX) shareholders will receive $77 in cash for each share acquired by argenx (NASDAQ:ARGX). The companies expect completion in the third quarter of 2026, subject to majority tender participation and U.S. antitrust clearance.

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argenx to buy Forte Biosciences for $2.2 billion

Written by Isaac FrancisPublished Jul 27, 2026, 7:58 AM

argenx agreed to acquire Forte Biosciences for $77 per share, valuing the company at approximately $2.2 billion.
Forte shares rose 22.1% to $66.86 in premarket trading following the announcement.
The acquisition adds autoimmune drug candidate FB102 to argenx’s immunology development pipeline.

argenx (NASDAQ:ARGX) agreed to acquire Forte Biosciences (NASDAQ:FBRX) for $77 per share, valuing the company at $2.2 billion.

The offer represents an 86% premium to Forte’s volume-weighted average price since its July 9 vitiligo data and 41% above Friday’s close.

The cash-funded tender offer requires majority participation and antitrust clearance, with completion expected during the third quarter of 2026.

Following the announcement, Forte Biosciences' share price was up 22.1% at $66.86 in premarket trading.

FB102 produced positive Phase 1b results in vitiligo and celiac disease, with Phase 2 celiac data expected during late 2026.

argenx said FB102 could complement efgartigimod and other antibody programs while supporting research in alopecia areata and additional autoimmune diseases.

argenx to buy Forte Biosciences for $2.2 billion

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