FBRX - Why Forte Biosciences Stock Is Imploding Today
Shares of Forte Biosciences (NASDAQ: FBRX) are imploding on Friday, plunging 81.4% lower as of 11:12 a.m. This huge decline came after the company announced on Thursday evening that top-line data from its phase 2 study evaluating FB-401 in treating atopic dermatitis hadn't met the primary endpoint of the study.
Forte stated that 58% of patients in the phase 2 study who received FB-401 achieved the primary endpoint of EASI-50 (the proportion of patients with 50% or greater improvement on the Eczema Area and Severity Index measurement). However, that was lower than the 60% of patients on placebo who achieved the threshold.
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Why Forte Biosciences Stock Is Imploding Today