Argenx To Acquire Forte Biosciences For $77 Per Share Cash, Valuing Deal At ~$2.2B, Adding CD122-Targeting FB102 With Vitiligo And Celiac Data

argenx Completes Acquisition of Forte Biosciences, Inc.

argenx successfully completed its acquisition of Forte Biosciences for $77.00 per share in cash, adding FB102, a first-in-class anti-CD122 antibody with clinical proof-of-concept in vitiligo and celiac disease. The acquisition expands argenx's immunology portfolio and supports its Vision 2030 strategy to become a leading immunology innovation company by targeting diseases with limited treatment options.

argenx shares are trading higher after UBS upgraded its rating on the stock from Neutral to Buy and raised its price target from $960 to $1400. Also, Wells Fargo maintained its Overweight rating and raised its price target from $1350 to $1415.

UBS Upgrades argenx to Buy, Raises Price Target to $1400

Wells Fargo Maintains Overweight on argenx, Raises Price Target to $1415

Wells Fargo analyst Derek Archila maintains argenx (NASDAQ:ARGX) with a Overweight and raises the price target from $1350 to $1415.

8-K filing — Forte Biosciences, Inc. (FBRX)

Filed: 2026-08-27 AccNo: 0001140361-26-034698 Size: 302 KB Item 2.01: Completion of Acquisition or Disposition of Assets Item 3.01: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Item 3.03: Material Modifications to Rights of Security Holders Item 5.01: Changes in Control of Registrant Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers Item 5.03: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Item 9.01: Financial Statements and Exhibits

argenx Announces Commencement of Tender Offer to Acquire Forte Biosciences, Inc.

argenx announced a tender offer to acquire Forte Biosciences for $77 per share in cash. The acquisition adds Forte's first-in-class anti-CD122 monoclonal antibody FB102 to argenx's immunology pipeline. The tender offer commenced on August 6, 2026, with an expiration date of August 26, 2026, and is not subject to a financing condition. Forte's Board of Directors has recommended stockholders accept the offer.