Forte Biosciences Inc

Argenx SE agreed to buy Forte Biosciences for about $2.2 billion in cash, paying $77 a share, a roughly 40% premium to Forte's Friday closing price. The deal adds Forte's experimental drug FB102, a first-in-class anti-CD122 antibody, to Argenx's immunology pipeline. Both companies' boards have approved the transaction, which is expected to close in the third quarter of 2026. Forte shares soared as much as 42% to $77.86 in premarket trading, while Argenx shares fell as much as 0.9% before paring the loss. Analysts at Van Lanschot Kempen called it the right deal at the right time, and KBC Securities said FB102 has blockbuster potential.

Monteverde & Associates PC is investigating four proposed acquisitions for potential breaches of fiduciary duty and other violations of law. The firm is examining the sale of Forte Biosciences to argenx BV at $77.00 per share in cash, Luxfer Holdings to affiliates of Wynnchurch Capital at $17.37 per share in cash, Sanara MedTech to MiMedx Group for $33.00 in cash and 0.4735 shares of MiMedx common stock per Sanara share, and MarketAxess Holdings to Intercontinental Exchange at $167.00 per share in cash. Shareholders are encouraged to contact the firm before the applicable tender offer deadlines, including August 26, 2026 for Forte Biosciences.

Several major deals were reported this week across sectors. KKR is close to a deal to take medical-device outsourcer Integer Holdings private, sending its shares up 20%. Intercontinental Exchange agreed to acquire fixed-income electronic trading platform MarketAxess Holdings in a transaction valuing its equity at roughly $6.0 billion and total enterprise at $5.7 billion. Grant Thornton Advisors agreed to buy professional services firm CBIZ in an all-cash deal with a $5 billion enterprise value, backed by New Mountain Capital. Koch Inc. is exploring a sale of data center developer Edged that could value it at more than $15 billion. KKR and Energy Capital Partners agreed to acquire Ireland-based energy distributor DCC Energy in a deal valued at about £5.7 billion, with shareholders receiving £65.25 per share in cash plus a final dividend and a potential contingent payment. TransDigm Group agreed to acquire Prince & Izant from Industrial Growth Partners for approximately $1.066 billion in cash. argenx SE will acquire Forte Biosciences for $77 per share in cash, a transaction valued at roughly $2.2 billion, adding a first-in-class anti-CD122 antibody to its immunology portfolio. Ambarella shares surged 19% on a report that NXP Semiconductors is in talks to acquire the chip designer, though a deal is not certain. Curium is in advanced talks to buy radiopharma company Lantheus Holdings for about $102 per share upfront plus $12.50 per share in contingent value rights.

argenx SE has entered into a definitive agreement to acquire Forte Biosciences through a cash tender offer, with both boards approving the transaction. The deal is expected to close soon, subject to customary conditions, and will result in a change of control for Forte Biosciences, with all remaining shares acquired after completion of the tender. Forte Biosciences shares most recently closed at $76.65, reflecting a very large one-year return of more than seven times its earlier level and a 30-day return of 264.5% amid intense market focus on the acquisition. The stock trades about 4% above the $73.80 analyst target and just below the $77 high target. The acquisition shifts the investment thesis toward deal completion risk and tender offer terms rather than standalone growth potential, with flagged risks including forecast earnings decline, shareholder dilution, high share price volatility, and no meaningful revenue remaining relevant until closing.

argenx has signed a definitive agreement to acquire Forte Biosciences for approximately $2.2 billion in total equity value. The deal, approved by both companies' boards, is expected to close in the third quarter of 2026 and will add Forte's first-in-class anti-CD122 antibody FB102 to argenx's immunology portfolio. argenx will launch a cash tender offer for all outstanding Forte shares at $77 per share, an 86% premium to the volume-weighted average price since positive Phase Ib vitiligo data were announced on July 9. The transaction will be funded entirely from argenx's cash on hand and is not subject to financing conditions. Forte expects to release Phase II data for FB102 in the second half of this year.

Gossamer Bio plans to submit a New Drug Application for Seralutinib to treat pulmonary arterial hypertension in September 2026, while Forte Biosciences has agreed to be acquired by argenx for $77 per share in cash, representing a total equity value of roughly $2.2 billion. Gossamer also regained worldwide rights to Seralutinib from Chiesi and reported cash of approximately $57 million as of June 30, 2026. Entera Bio shares soared over 90% after announcing an oversubscribed private placement expected to generate about $275 million in gross proceeds. Omeros gained more than 15% after AstraZeneca's Ultomiris failed a Phase 3 trial for HSCT-TMA, removing a key competitive threat to Omeros's YARTEMLEA. First Tracks Biotherapeutics rose over 18%, continuing its strong performance since its April 2026 Nasdaq debut.

ASML dropped 8% after The Information reported China began mass production of domestically made deep ultraviolet chipmaking tools. Memory chip stocks were mixed as CXMT soared more than 466% in its Shanghai debut, while SK Hynix fell over 8%, SanDisk slid 11%, and Micron Technology lost 5%. SAP jumped more than 7% after announcing the second part of a 10 billion-euro stock buyback. Forte Biosciences rallied about 40% on a $2.2 billion cash acquisition by Argenx at $77 per share, a 40% premium to Friday's close. Brown-Forman climbed almost 4% after rejecting a $15 billion unsolicited takeover offer from Sazerac at $32 per share. Baker Hughes gained 6% on better-than-expected second-quarter earnings and revenue, while Amkor Technology fell 7% ahead of its quarterly report. D-Wave Quantum added 5% on a partnership with AT&T to use annealing quantum computers for AI, and MapLight Therapeutics plunged 68% after a Phase 2 schizophrenia trial missed its primary endpoint.

Memory stocks rose broadly after Chinese chipmaker CXMT debuted on the Shanghai public market with its stock surging more than 466%, lifting U.S.-listed peers including Micron Technology which advanced 2.5%. Energy stocks followed oil prices lower after the U.S. and Iran agreed to pause attacks, with Chevron down 2.7%, ExxonMobil down 3.2%, and APA, Devon Energy, and Diamondback Energy each falling around 4%. Forte Biosciences rallied more than 39% on news it will be acquired by Netherlands-headquartered Argenx for $2.2 billion in cash, or $77 per share, a 40% premium to Friday's close. Baker Hughes gained nearly 2.2% after reporting better-than-expected second-quarter earnings and revenue, with the CEO citing favorable fundamentals and reaffirming full-year guidance. D-Wave Quantum rose more than 7% after announcing a partnership with AT&T to use its annealing quantum computers for AI, while IonQ gained nearly 4.5% and Rigetti Computing added 3.8%.

Stock index futures edged higher on Monday as a pause in U.S.-Iran military strikes eased fears of a broader Middle East conflict. Forte Biosciences shares jumped 39% after argenx SE agreed to acquire the company for $77 per share in cash, valuing the deal at about $2.2 billion and representing an 86% premium to Forte’s volume-weighted average price since reporting positive Phase 1b vitiligo data on July 9. Broadcom rose 2.5% after Samsung Electronics signed a memorandum of understanding to supply memory and foundry chips through 2030 in a deal valued at over $200 billion, with the memory component focusing on HBM for Broadcom’s next-generation AI accelerators and the foundry part centered on Samsung’s 2-nanometer and below process technologies. General Motors gained 2% as Jefferies upgraded the stock to buy from hold with a $99 price target, citing confidence that 2027 will strengthen the automaker’s position within the U.S. profit oligopoly. Exxon Mobil fell 3% alongside the broader oil and gas sector as crude prices tumbled more than 5% on hopes for a diplomatic solution to de-escalate the conflict and allow shipping to resume through the Strait of Hormuz. Everbright Digital declined 5% after pricing a public offering of 4.29 million ordinary shares at $1.88 per share for total gross proceeds of around $8.07 million, with net proceeds intended for general corporate purposes and working capital needs.

Several biotech stocks reached 52-week highs on July 22, 2026, driven by clinical trial updates and acquisition news. Advanced Biomed shares surged over 73% to $18.73 after reporting a first-quarter net income of $5.98 million and disclosing a securities purchase agreement to acquire Accellent Technologies for approximately $1 million. BioLife Solutions rose over 6% to $31.49 following the announcement that Repligen would acquire the company for a total enterprise value of about $1.5 billion. Forte Biosciences gained over 11% to $56.84 after reporting positive Phase 1 vitiligo trial results for its lead product FB102, which is also in Phase 2 for celiac disease. Silence Therapeutics climbed over 9% to $11.90 as it prepares to begin a Phase 3 trial for its siRNA candidate Zerlasiran in high-risk atherosclerotic cardiovascular disease. LB Pharmaceuticals ended up over 10% at $36.59 after announcing that topline results from the Phase 3 NOVA-2 trial of its schizophrenia drug LB-102 would be reported in the first half of 2027, earlier than previously expected.

U.S. stock index futures were mixed on Thursday as investors weighed escalating tensions between the United States and Iran against a continued rebound in semiconductor shares. The Dow futures contract slipped 85 points, or 0.2%, while S&P 500 futures gained 12 points, or 0.2%, and Nasdaq 100 futures advanced 176 points, or 0.6%. Among individual movers, Enovix surged 17% after appointing former Apple executive Michael Vyvoda as chief operating officer to oversee global manufacturing, supply chain and operations as the company ramps up production in Malaysia and South Korea. Forte Biosciences jumped 12% after reporting positive Phase 1b results for its vitiligo treatment FB102, which delivered a statistically significant improvement over placebo with benefits continuing through 24 weeks. Rackspace Technology gained 8% after announcing a strategic partnership with Palantir Technologies to deploy enterprise artificial intelligence in regulated industries, positioning Rackspace as a preferred partner for implementing Palantir's Foundry and Artificial Intelligence Platform. PepsiCo slipped 1.8% after reporting mixed second-quarter results, with revenue topping Wall Street estimates but adjusted earnings per share coming in just below analyst expectations.