argenx to Acquire Forte Biosciences for $2.2 Billion to Boost Immunology Pipeline

Key Facts

In a move reflecting the accelerating pace of M&A activity within the biotech sector to drive therapeutic innovation, argenx has announced a definitive agreement to acquire Forte Biosciences. Under the terms, argenx will commence a cash tender offer for all outstanding shares of Forte at $77 per share, valuing the company at approximately $2.2 billion. The acquisition primarily aims to integrate FB102, a promising antibody targeting immunology-related conditions, following successful early-stage clinical trials.

Markets reacted sharply to the announcement, with Forte Biosciences (FBRX) shares surging approximately 40% to reach $76, narrowing the gap to the $77 cash offer price. Per market data, this move represents a significant premium over the previous close of $54.78 on July 24, 2026. Meanwhile, argenx (ARGX) shares were priced at $918.22 at the close of July 24, 2026, having reached a session high of $935.88.

Investors are now monitoring the completion of the cash tender offer and the integration timeline for the new assets, with FBRX holding near the $76 level (close July 24, 2026). According to the economic calendar, there are no immediate upcoming catalysts for these specific instruments; however, focus will remain on the 14D-9 regulatory filings and final merger approvals to assess the long-term financial impact on argenx's cash position.