Money Makers Mentor

Forte Biosciences, Inc. and Tacogen Announce Merger

Forte Biosciences Inc and Tacogen have recently announced a merger. Just a few months ago Tacogen faced a major setback in late clinical trials, leading to the lay off of over 65% of its workforce.

The all-stock transaction will result in Forte Biosciences shareholders owning approximately 74.5% and Tacogen shareholders owning 25.5% of the combined company. Following Tacogen shareholders approval the combined company will trade on the NASDAQ under Forte Biosciences’ name with the new symbol FBRX.

San Diego’s Tacogen focuses on gene therapies for brain cancer. However, in a late stage test known as a Phase 3 trial, drugs Taco 511 and Taco FC didn’t prolong patient survival compared to chemotherapy, the standard treatment. In addition, it not only failed to meet its primary goal whe…

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