prior to the closing of the Merger, the then outstanding shares of Tocagen common stock were adjusted with a reverse stock split of 15 to 1 (the Reverse Stock Split). At the closing
of the Merger, each share of Forte Subsidiarys common stock was converted into the right to receive approximately 3.1624 shares of Tocagen common stock (before giving effect to the reverse split). Immediately prior to closing of the Merger,
Tocagen changed its name to Forte Biosciences, Inc. Our common stock is publicly traded on the Nasdaq Capital Market under the ticker symbol FRBX. Prior to the Merger, Forte Subsidiary was a privately held company incorporated in Delaware on
May 3, 2017.
Net loss per share, basic and diluted for the years ended December 31, 2019, 2018 and 2017, adjusted to reflect the
Reverse Stock Split are $(40.32), $(36.61) and $(39.97), respectively. The weighted-average shares outstanding to compute net loss per share, basic and diluted for the same years adjusted to reflect the Reverse Stock Split are 1,575,361, 1,337,302,
and 973,840, respectively. The common shares outstanding at period end for the same years adjusted to reflect the Reverse Stock Split are 1,593,284, 1,533,343, and 1,325,503, respectively.
Net loss per share, basic and diluted for the quarters ended March 31, 2020 and 2019, adjusted to reflect the Reverse Stock Split are $(6.45)
and $(11.12), respectively. The weighted-average shares outstanding to compute net loss per share, basic and diluted for the same quarters adjusted to reflect the Reverse Stock Split are 1,593,525 and 1,536,063, respectively. The common shares
outstanding at period end for the same quarters adjusted to reflect the Reverse Stock Split are 1,594,314 and 1,547,390, respectively.
FB-401 Clinical Trial
On September 29, 2020, the Company announced that the first patient
had been dosed in the clinical trial of FB-401 for the treatment of atopic dermatitis. The multi-center, placebo controlled clinical trial of FB-401 is expected to
enroll approximately 124 pediatric, adolescent and adult subjects aged 2 years of age and older with AD. The primary endpoint of the trial is EASI-50, which is a measure of the proportion of patients that
achieve at least a 50% improvement in the AD disease burden as measured by the Eczema Area and Severity Index (EASI). In the previously completed Phase 1/2a trial, the pediatric cohort enrolled AD patients with mild, moderate and severe
disease, ranging in age from 3 to 16 years. Those patients were treated topically with FB-401 for 16 weeks (twice weekly for 12 weeks and every other day for the final 4 weeks).
EASI-50 was achieved by 90% of the pediatric patients and 100% of the subset of moderate-to-severe pediatric patients. The mean
improvement in the EASI score was 77%, with improvements observed on all actively treated body regions. The activity was durable through the follow-up period of up to 8 months after the end of treatment.
Pruritus (itch) also improved by an average of 4 points (mean improvement of 58%). FB-401 has been shown to drive tissue repair and anti-inflammation while controlling potentially harmful bacteria
like Staphylococcus aureus.
FDA Fast-Track Designation
On October 26, 2020, the Company announced that the U.S. Food and Drug Administration (FDA) had granted Fast Track Designation
to FB-401 for the treatment of AD.
Corporate Information
Our principal executive offices are located at 1124 W Carson Street MRL Building 3-320, Torrance,
California 90502, and our telephone number at that address is (310) 618-6994. Our corporate website is located at www.fortebiorx.com. The information contained on, or that can be accessed through, our website
is not a part of this prospectus supplement. Investors should not rely on any such information in deciding whether to purchase our common stock. We have included our website address in this prospectus supplement solely as an inactive textual
reference.