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argenx Acquires Forte Biosciences for $2.2B at $77 Per Share — 86% Premium Targets First-in-Class Anti-CD122 Antibody FB102

argenx announced a $2.2 billion all-cash acquisition of Forte Biosciences at $77 per share, an 86% premium to Forte's volume-weighted average price since its positive Phase 1b vitiligo data on July 9. The deal adds FB102, a first-in-class anti-CD122 antibody with proof-of-concept in vitiligo and celiac disease, to argenx's growing immunology portfolio. The transaction is fully funded from cash and is expected to close in Q3 2026, with argenx hosting an investor call this morning at 8 a.m. ET.